The Australian dollar extends gains for a third session, trading near multi-year highs on broad-based USD softness.
The AUD/USD pair regained momentum in Asian trading, climbing back toward 0.7250 after a brief pullback from the 0.7275-0.7280 zone, its highest level since June 2022. The move marks the third consecutive daily advance, supported by a softer US dollar and dip-buying interest.
Prior to the rebound, the pair had retreated from resistance near 0.7280, a level last tested over two years ago. Market consensus had anticipated a consolidation phase after the recent rally, though broader USD weakness continues to underpin the Aussie’s strength.
Spot prices hovered around the mid-0.7200s, reflecting sustained bullish sentiment amid expectations of further USD downside.