AUD/USD Breakout Hits 10-Week Highs as Aussie Continues Broader Recovery

The Australian Dollar has continued its upward momentum, reaching ten-week highs as it rallies nearly 4.5% from the June low.

This significant advance is part of a broader recovery that has been gaining traction, with the Aussie advancing in seven out of the past eight weeks.

According to technical analysis, the near-term structure remains constructive while price holds above rising trend support, but momentum is now approaching its strongest levels since February.

The rally is nearing a major resistance confluence where the risk of near-term exhaustion begins to rise, with key resistance levels at 7208/14 and subsequent objectives at 7258 and 7295.