AUD/USD Gaps Higher Alongside Nasdaq and Gold; Key Supports in Focus

AUD/USD opened Monday's session with a bullish gap-up alongside US equity indices (Nasdaq 100, Dow Jones) and gold, reflecting broad risk-on sentiment to start the week. The move higher was driven by improved global risk appetite, likely supported by the Iran nuclear deal and positive weekend developments in trade relations. However, analysts caution that the advances across all four assets remain vulnerable to reversal if key intraday support levels fail to hold. For AUD/USD, traders should watch for confirmation of the gap-up with sustained buying above the opening level, as gap-fills remain a common pattern in early-week trading. The correlation between the Australian dollar and equity markets reinforces the risk-sensitive nature of the move. Gold's concurrent rally suggests underlying dollar weakness is contributing to AUD/USD strength. Near-term direction will depend on whether buyers can defend support and build momentum, or whether profit-taking and fading risk appetite trigger a pullback across correlated assets.