AUD/USD opened +0.95% at 0.7470 after AUD/JPY demand underpinned

AUD/USD dipped to 0.7450 in early Asia on profit taking by longs

AUD/JPY demand persisted and cross traded to a 6-year high at 90.60

The buying helped AUD/USD 0.7470 into the afternoon

AUD benefiting from investors seeking carry trade returns

AUD/USD trending higher with the 5, 10 and 21-day MAs in a bullish alignment

Only a break below 10-day MA at 0.7345 would warn of sagging momentum

Overbought technical conditions may limit gains in immediate term

Resistance is at the 50% of the 0.8007/0.6957 move at 0.7487

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