AUD (Australian Dollar) – The Australian dollar breaks above the top of its range, with further upside potential expected.

The Australian dollar against the US dollar has been encountering resistance around the 0.72 level for the past two weeks. With Wednesday's breakout, if it can hold above this level, a new upward trend is expected. Based on the recent 100-pip range, the first target is 0.73. Further resistance is expected at 0.7380 and 0.75. The support is initially seen at 0.72, with a key level at 0.71, near the 25-day moving average at 0.7120. Stronger support is expected at the 100-day moving average at 0.6970 and 0.6800.

Forcasted Range:
Resistance: 0.7300 - 0.7380 – 0.7500
Support: 0.7200 - 0.7100 - 0.6970 – 0.6800

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5/5
Australia's April Services PMI: 50.7
Australia's April Composite PMI: 50.4

RBA Announces 0.25% Interest Rate Hike

7/5
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