AUD/USD flat-lines around 0.7100, just below multi-month top ahead of US PCE
The AUD/USD pair is seen oscillating in a narrow trading band on Friday and consolidating its recent strong gains to the highest level since June 2022 touched the previous day. The pair is currently placed around the 0.7100 mark, nearly unchanged for the day, as traders look to the key US macro data for a fresh impetus.
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Therefore, the AUD/USD might continue its uptrend, albeit trimming some of its gains. Achieving a daily close above 0.7100 exacerbated an upward move towards a fresh 7-month high, keeping bulls hopeful of testing the 0.7200 mark. However, on its way north, the AUD/USD needs to clear 0.7142, followed by 0.7150, and then the 0.7200 psychological figure.
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