AUD/USD with eyes for the top of the triangle at 0.7712

Currently, AUD/USD is trading at 0.7687, up 0.05% on the day, having posted a daily high at 0.7690 and low at 0.7679.

AUD/USD remains firmly on the bid as we head over to the Tokyo open and before key the Chinese manufacturing data. The Aussie has had its best run with a weaker dollar and with meal prices firmer; copper breaks out higher and this usually underpins Aussie strength. " The spot iron ore price has risen in 9 of the past 10 trading days, accelerating this week with a 10% gain, Energy prices are also picking up, with crude oil recovering (a little) lost ground," noted analysts at Westpac.

NZD/USD: still on 'Struggle Street' - ANZ

Traders will now be focused on the RBA next week and some analyst expects a more hawkish tone. The RBA could thus further accelerate the upside in the Aussie. AUD/USD is already embarking on the year-long trend resistance overhead at 0.7730 on a break of the 0.77 the figure. 

AUD/USD levels

AUD/USD bulls have been on the warpath and eye the top of the triangle at 0.7712. The next key levels to the upside beyond the aforementioned are 0.7750, 0.7777 and 0.7834 (20th April high). Tot the downside, The market is expected to find support at the 200-day ma at 0.7530 and the 55-day ma at 0.7496, according to analysts at Commerzbank.