The path of least resistance is to the upside for the Australian dollar, which looks supported above 0.75. Some weakness in gold and oil is offset by better risk sentiment across the globe.

Next target for the pair is 100 MMA (0.77) and then 2011 - 2016 support/resistance line (0.7750). The mentioned 0.75 level is backed by 100 DMA (0.7460), 50 DMA (0.7375) and 200 DMA (0.73).

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