• AUD/USD consolidated near one-month high on Wednesday as optimism over potential U.S.–Iran talks continued to underpin the Australian dollar.
• Expectations that the RBA will maintain tighter policy settings compared to other central banks have underpinned the Australian dollar, keeping upside pressure intact..
• Additional focus will be on remarks from RBA Deputy Governor Andrew Hauser, who is scheduled to speak later today in Washington D.C., which could provide further policy cues..
• On the data front, Australia’s March employment report due Thursday will be key. According to a Reuters poll, jobs are expected to rise by 20.0K, while the unemployment rate is forecast to hold steady at 4.3%.
• Immediate resistance is located at 0.7168 (23.6%fib), any close above will push the pair towards 0.7207(Higher BB).
• Support is seen at 0.7081 (April 14th low) and break below could take the pair towards 0.7065 (38.2%fib).
Recommendation: Good to buy around 0.7140, with stop loss of 0.7060 and target price of 0.7200
