The Aussie picked up mid-US afternoon as US equities reversed most of their daily losses while oil pared losses, factors that kept the AUD/USD pair for most of the day. There were no relevant macroeconomic releases in Asia to drive the pair, but the soft tone of equities kept the upside limited in the pair. Soft US data and easing demand for the greenback, prevented the pair from falling, having spent the day right below the 0.7565 Fibonacci level. News that the OPEC may increase its oil production to compensate Iran and Venezuela possible output drop, put a halt on the commodity's s decline, backing the ongoing ... (full story)