AUD/USD tests key resistance as US dollar drops to 2018 lows

The AUD/USD price is up by more than 0.15% as a weaker US dollar converge with strong economic data from Australia. It is trading at 0.7382, which is a few pips higher than yesterday’s low of 0.7342. US dollar slumps The US dollar slumped in overnight trading as hopes of a new stimulus in the US and signs of a Covid vaccine pushed investors away from the greenback. Media reports suggested that Steve Mnuchin and Nancy Pelosi were in close agree a limited fiscal stimulus to support the economy. A stimulus is often viewed as being negative for the US