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AUD/USD chart - Trading View
AUD/USD was trading 0.44% higher at 0.7565 at around 07:35 GMT, extending previous session's gains.
The pair has hit fresh multi-month highs and outlook remains strongly bullish. Scope for further upside.
AUD largely ignores Aussie-China tussle and extends gains across the board as Dalian iron-ore futures soar nearly 4.0% to 8.0% for most contracts.
Major trend remains strongly bullish. Upside has halted shy of 78.6% Fib at 0.7573. Break above will see further gains.
Bulls on track to test next major resistance at 110M EMA at 0.7696 ahead of 88.6% Fib at 0.7836.
Focus on U.S. Producer Price Index and revised Michigan Consumer Sentiment Index along with the US stimulus headlines for short-term trading opportunities.
