AUD/USD Reaches Ten-Week Highs Amidst Continued Rally

The Australian Dollar (AUD) has experienced a significant surge in value, reaching ten-week highs as it rallies nearly 4.5% from its June low.

This upward trend continues to gain momentum, with the AUD advancing in seven out of the past eight weeks and daily momentum climbing to its strongest levels since February.

The near-term technical structure remains constructive, but buyers are now approaching a major resistance confluence where the risk of near-term exhaustion begins to rise.