The Australian dollar is growing for the fifth consecutive day. The currency has strengthened by almost 0.2% today in AUD/USD, but has not yet reached yesterday’s intraday highs in the area of 0.7446. Technically the daily closing above 0.7400 should please the bulls, but the Australian dollar grows only as long as the USD falls.
The pair passed the level of 1.10. The ZEW economic sentiment index will be published Today in Germany and the Euro zone. Good data will mean the recovery of the European economy and most likely will help the euro to gain a foothold above the 1.10 level.