AUD/USD rallies 0.86% to 0.7178, highest level since early June

AUD/USD is the standout performer across the majors on Friday, with the Australian dollar advancing 0.86% against the greenback to reach 0.7178, its highest level since early June. The Aussie leads all major currencies versus the USD in the session, extending a recovery that began after the pair carved out its weekly low on Wednesday following choppy two-way trade through the first half of the week. The move reflects broad-based US dollar softness as traders reassess the US rate outlook and Treasury market dynamics, with risk-sensitive currencies such as the AUD the primary beneficiaries. Technically, the next upside objective sits at the swing area between 0.71993 and 0.7200, a confluence zone that combines a prior swing level with a round-number magnet. A sustained break above 0.7200 would open the door to further extension, while failure there risks a pullback toward this week's midweek low. Traders should note that momentum remains constructive while price holds above the Wednesday base, keeping the near-term bias tilted to the upside.