• AUD/USD hits 0.72365 after extending north from 0.7218 (Asia low)

• 0.72365 is fresh four-month high (0.7231 was Tuesday top)

• Australian dollar buoyed by hawkish RBA rate expectations

• Goldman Sachs now forecasts RBA hike on September 29

• GS also says a follow-up RBA hike in November is "a material risk"

• AUD/USD bull targets include 0.7277 (May high) and 0.73

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(Robert Howard is a Reuters market analyst. The views expressed are his own)