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The Australian dollar experienced a strong surge late last week, advancing by 0.85% on Friday to hit new local highs near 0.7180. What previously started as a gradual upward trend transitioned into an aggressive rally, propelling the currency toward the upper 0.7100 handle within a few trading sessions. This rapid shift in momentum highlights robust underlying demand for the AUD against major trading counterparts. Market analysts note that this wave of appreciation differs from earlier rallies seen in January and February, driven by shifting macroeconomic expectations and changing interest rate outlooks. Traders and foreign exchange markets will be paying close attention to whether the Australian dollar can maintain this bullish momentum above key resistance levels. Upcoming global economic releases and central bank sentiment will likely determine if the rally continues or faces profit-taking.
