AUD Challenges 72-Cent Ceiling as US Dollar Stagnates

The Australian dollar has been steadily gaining ground against its US counterpart, and is now threatening to break through a key resistance level.

The DXY index, which tracks the value of the US dollar against a basket of currencies, has been trading sideways recently, while the AUD has been rising.

This has led some analysts to suggest that the AUD may challenge the long-term resistance line at 72 cents, a level it hasn't breached in some time.