AUD/USD pushes to fresh highs in over three weeks
The pair is running with the upside momentum again after a slight pullback towards 0.7706-10 at the tail-end of Asia Pacific trading. The firmer risk mood to start European trading is helping somewhat, lifting AUD/USD to the highs for the day at 0.7753.
There is some minor resistance from the 22 March high next @ 0.7756 but beyond that, there isn’t much in the way of a stronger push towards 0.7800 next for the pair.
As much as the dollar may find some potential comfort from the US retail sales report later today, the fact that yields aren’t really showing signs of establishing the next leg higher is a helpful factor to keep dollar strength at bay for now.
Adding to that is how the technical picture here has turned much in favour of buyers this week upon the break of the resistance region @ 0.7656-64 earlier in the week.