Forex
AUD/USD Surges Past June High as Bulls Target YTD Levels
The AUD/USD has broken above its June high, indicating renewed bullish momentum. The Relative Strength Index (RSI) supports this upside as buyers target 0.7200 and 0.7227.
On Friday, the Aussie Dollar finished with gains of over 0.82% and was up more than 1.20% for the week, thanks to the US Treasury Department's announcement of a bond buyback for the long end of the curve.
The AUD/USD trades at 0.7170, rebounding near 0.7067. If bulls are successful in breaching 0.7200, they will clear the path to challenge the year-to-date (YTD) high of 0.7227.