AUD/USD trades to a fresh one-month high of 0.7425
For now, the technicals are supportive for the aussie against the dollar and it points towards a potential test of 0.7400 again, where upside momentum stalled previously during July and August trading.
As such, that offers a key line in the sand for buyers to contest in order to establish any fresh upside leg while sellers will have to defend that to hold their ground.
As things stand, the dollar side of the equation is a key consideration this week with the US non-farm payrolls release
tomorrowtoday a key risk event.
That will set the tone towards the end of the week but a poor jobs report may yet spur a fresh break for AUD/USD to the upside back towards 0.7500 potentially.
Otherwise, we may see more of a middling tone ahead of the weekend with 0.7400 capping gains with downside limited closer to key near-term levels at
0.72750.7300 and 0.73160.7344.