AUD/USD stretching upwards towards 0.6600

• The Australian Dollar is seeing a mild recovery for Monday.
• AUD/USD testing territory north of 0.6550.
• RBA Gov Bullock speech, RBA Meeting Minutes due early Tuesday.

The AUD/USD has gained over 0.5% in Monday's trading, lifting above 0.6550 as the US Dollar (USD) eases back across the market, giving the Aussie (AUD) some breathing room. The Antipodean is extending recent bullish action, extending a climb into its highest bids since August.

Broader markets are tilting cautiously into risk-on sentiment, pushing the Greenback lower as investors celebrate what is widely perceived as the end of the Federal Reserve's (Fed) rate hike cycle.

A speech from Reserve Bank of Australia (RBA) Governor Michelle Bullock is due early in the Tuesday session, followed by the RBA's latest Meeting Minutes. RBA Governor Bullock will be speaking at the Australian Securities & Investments Commission's Annual Forum, branded "State of the Economy".

The mid-week will be bringing Australian Purchasing Manager Index (PMI) figures alongside US Jobless Claims data.

The AUD/USD's bullish extension sees the pair testing into the 0.6550 region, grinding higher towards the 200-day Simple Moving Average (SMA) near the 0.6600 handle.

The AUD/USD has rebounded almost 4.5% from October's lows near 0.6270, a year-long low bid for the pair.

Near-term swing lows continue to plague the pair, and the Aussie will have a tough time continuing to reclaim higher chart territory as bids approach the 0.6700 major handle.

AUD/USD Daily Chart