The AUD/USD continues to benefit from the renewed appetite for higher yielding currencies and with the 0.7000 level now looking like a minor line in the sand it looks like we will continue to target the 0.7300 level as the next big one to pay attention to.
The only negatives i can see for the AUD/USD are that the daily technical studies are due for a pullback from their overbought levels, but while the global equity markets continue to rally and the market lusts after risk, the AUD/USD should continue to head higher.
Stops on longs should remain below 0.7000.
