FxWirePro: AUD/USD hits new four-year high,scope for further upside

 •AUD/USD hit new four-year high on Wednesday after the U.S. paused efforts to assist shipping through the Strait of Hormuz, easing immediate supply disruption concerns

• President Trump pointed to progress on a potential peace deal, though Iran’s port blockade remains in place, keeping geopolitical risks elevated

• Oil futures moved lower, with Brent crude falling 1.38% as risk sentiment improved on easing Middle East tensions.

• The Australian dollar could test key resistance in the 0.7252–0.7281 zone if a U.S.–Iran truce gains traction and risk appetite strengthens further.

• Australia’s March trade balance data is due Thursday, with Reuters consensus expecting a surplus of A$4.1 billion

• U.S. April Non-Farm Payrolls will be released Friday, with a Reuters poll consensus forecast of +62K jobs.

•  Immediate resistance is located at 0.7255(38.2%fib), any close above will push the pair towards 0.7281 (Higher BB).

•  Support is seen at 0.7167(50%fib) and break below could take the pair towards 0.7155(SMA20)

Recommendation: Good to buy around 0.7210 with stop loss of 0.7160, and target price of 0.7280