• AUD/USD (+0.7%) firms, back above 0.7200 to maintain a constructive tone

• Multiple topside failures at this level suggests that the close matters

• Initial USD weakness on suspected JPY intervention, keeping a lid on USD

• Middle East headlines also adding a risk-on bid, helping AUD extend higher

• Dips well-supported throughout the session, thus the bias stays tilted higher near-term
AUDUSD hourly chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))