Australian Dollar rises broadly in European on broad based risk market rally. AUD/USD hits as high as 0.7471 so far and it’s on track to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.
Though, to confirm the underlying momentum of Aussie, EUR/AUD will need to take out 1.6033/6122 support zone. AUD/JPY will also have to take out 78.46 high decisively. Otherwise, the current rally might reverse for the short term any time.
