The Australian dollar extends gains against the USD, reaching a daily high amid broader dollar softness in early European trading.
The AUD/USD pair climbed to a fresh daily high during Monday’s early European session, trading above the 0.7000 level. The move follows a weakening US dollar, which has supported the Australian currency’s upward momentum.
Earlier, the pair had struggled to sustain gains above 0.7000, a key psychological resistance level. The US dollar’s decline comes as markets assess broader macroeconomic trends, including shifts in monetary policy expectations.
Traders are now watching for further confirmation of the AUD’s strength, with the 0.7000 mark acting as a critical near-term support level.