AUD/USD touches a session high of 0.7624
The pair looks to have truly found a bottom now, as the data beat earlier in the day gave buyers enough of a reason to push through the May high and now the pair looks set to move towards a test of the 29 March support-turned-resistance @ 0.7643.
Looking at the momentum and build up, it's not a level that may hold down the pair for long with buyers certainly looking keen to move towards a test of the 38.2 retracement level @ 0.7689 and the 0.7700 handle.
That will be the next key area of resistance to look out for. Buyers are in control of the pair in the near-term but there are still key risk events to come later in the week for the aussie.
Tomorrow we'll have the RBA statement - expected to be a non-event - and also Q1 GDP figures due on Wednesday. The latter is now expected to be a little bit more positive after the data beats earlier today, so be wary of any disappointment in the release as it could weigh on the aussie more than anticipated.
Apart from that, the other thing to watch out for is risk sentiment in the form of the trade rhetoric between US and the rest of the world as that could rear its ugly head again.
