After bouncing from the 38.2 % retracement of the 0.8575/0.9250 retracement on Friday, AUD/USD has powered higher, breaking through a downtrend line in place since we topped out at 0.9252 on St. Paddy’s day. Prices look to be getting comfortable above that line, which comes in at 0.9148 on the hourly chart.
Hawkish comments from the RBA last night along with hopes for a broad global recovery are helping lift the AUD in US trade this morning.
Resistance is 0.9180, just below 0.9200 and up at 0.9250. Bids are eyed on dips to 0.9120/40 area.