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The Australian Dollar emerged as the top performer among major currencies, rising 0.86% against the US Dollar to reach its highest level since early June at 0.7178. The rally was supported by broader USD weakness following a U.S. Treasury announcement, along with surging commodity prices including gold and silver. Bitcoin also contributed to the overall risk-on mood with a 6.45% daily gain. From a technical perspective, AUD/USD successfully bounced off technical support near its 50% Fibonacci retracement level at 0.7070 earlier in the week. The pair has since cleared its 61.8% retracement level at 0.71193, which now serves as a key technical support zone alongside the 0.71317 mark. Buyers remain in firm control as long as prices stay above this area. Traders are now focusing on the key upside target resistance area between 0.71993 and 0.7200. A break above this threshold could open the door for further gains, whereas a drop back below the 0.71193 support would weaken the current bullish bias and give sellers an opportunity to regain momentum.
