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AUD/USD Outlook: Risk Appetite Lifts Aussie to Two-Week High

The Australian dollar extends advance into third straight day, lifted by fresh risk appetite that lifted stocks and reopening of Australia’s borders.

Bulls broke above last week’s high (0.7168) and pressure pivotal barriers at 0.7181/83 (Fibo 61.8% of 0.7314/0.6967 / base of thick daily cloud), break of which would open way for further advance and expose targets at 0.7232 (Fibo 76.4%) and 0.7248 (100DMA).

Broken daily Kijun-sen (0.7140) reverted to solid support which should ideally keep the downside protected.

Traders await US inflation data on Thursday for fresh signals.

Res: 0.7183; 0.7200; 0.7232; 0.7248.
Sup: 0.7161; 0.7140; 0.7101; 0.7065.

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