AUD/USD touches a session high of 0.6719
Risk is faring a bit better to kick start the day, with Asian equities posting solid gains as US and European futures are also keeping slightly higher on the day.
In the currencies space, we are seeing the yen stay weaker and risk currencies are pushing gains as we look towards European trading.
For AUD/USD, price is at a session high of 0.6719 and is testing waters above the key hourly moving averages around 0.6712-14. Stay above those levels and the near-term bias will turn more bullish, providing a platform for buyers to chase a move higher.
Just keep in mind that we have large expiries rolling off at 0.6700 tomorrow, so that may play a role in limiting the downside move now - considering how price action is developing.
Further resistance is now seen closer towards 0.6750-54 before last week's high at 0.6774, though there are minor resistance levels from the Fib retracement as highlighted.
