The AUD is the strongest of the major currencies against the USD today, rising 0.86% and pushing AUDUSD to its highest level since early June.
The pair has reached a high of 0.7178, with the next key upside target coming in at the swing area between 0.71993 and 0.7200 (see video and the chart below)
Looking at the price action this week, AUDUSD traded up and down through the first half of the week before reaching its weekly low on Wednesday. That decline took the pair down to test the 50% retracement of the move lower from the May 1, 2026 high to the June low at 0.7070. The 100-day moving average was also nearby, adding to the technical importance of the area.
The price briefly moved below the 50% retracement but could not extend down to the 100-day moving average. Buyers stepped in, and AUDUSD subsequently raced higher following the U.S. Treasury announcement and the broader USD selling that followed.