Analysts highlight strong short-term momentum in AUD/USD, targeting 0.7015 after a surge to 0.6992.
The Australian dollar climbed to 0.6992 against the US dollar, recovering from an earlier dip, as short-term momentum builds for further gains. Analysts note potential for a test of 0.6995, with major resistance at 0.7015.
Recent price action follows a period of consolidation, with the pair previously trading in a narrower range. The shift in momentum suggests growing bullish sentiment in the near term.
No immediate market reaction was specified, but the focus remains on whether AUD/USD can break above the 0.7015 resistance level.