The Australian dollar edges higher on upbeat Q2 GDP. The pair continues to recover along a rising trendline after it bounced back from the daily demand area near 0.7100.
The bullish pace accelerated after the first resistance at 0.7170 was lifted. Buyers are pushing towards the major hurdle at 0.7400 from the daily time frame.
A bullish breakout may trigger a runaway rally as medium-term sellers cover their positions. That in turn could end a three-month correction. 0.7290 is fresh support to let the RSI return to neutrality.
