AUD/USD holds session highs above 0.6605 on stronger trade surplus

AUD/USD maintains its upward momentum, holding at session highs above 0.6605 following Australia's October trade balance data. The trade surplus came in at A$4,385 million, exceeding market expectations of A$4,219 million, providing additional support for the Australian dollar. The better-than-expected trade performance reflects robust export dynamics and strengthens the fundamental outlook for the AUD. The pair had been rising prior to the data release, suggesting underlying bullish sentiment was already in place. Technical analysis shows the currency pair has broken above the 0.6600 psychological level, with immediate resistance likely around 0.6620-0.6630. Support has formed at 0.6580, the previous consolidation zone. The positive trade data reinforces Australia's economic resilience and may encourage traders to maintain long positions in AUD/USD, particularly if commodity prices remain supportive and risk sentiment stays constructive in Asian markets.