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The AUD/USD currency pair regained its upward trajectory on Friday, reversing the previous session's minor pullback triggered by disappointing Australian labor market statistics. During the first half of the European trading session, the pair rose to a fresh multi-month high, demonstrating resilient bullish sentiment despite mixed economic indicators from Australia. Market participants are increasingly focusing on the divergence between the Reserve Bank of Australia's policy outlook and the Federal Reserve's expected monetary easing cycle. The Australian Dollar continues to benefit from broader US Dollar weakness, driven by growing expectations of Fed rate cuts later this year, which provides underlying support for risk-sensitive currencies. Looking ahead, traders are monitoring key technical resistance levels, with a sustained break above 0.7150 potentially opening the door for further upside target testing. Short-term price action will likely depend on upcoming macroeconomic releases from both the US and Australia, alongside broader global market risk appetite.
