AUD/USD: The Australian dollar surged after data showed domestic building permits eased 4.7 percent in April after falling 13.4 in March. However, the upside was limited as investors priced in at least two cuts in interest rates this year from the Reserve Bank of Australia. The Aussie trades 0.2 percent up at 0.6931, having hit a high of 0.6938 on Monday, it’s highest since May 15. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6881 (May 24 Low), a break below targets 0.6846. On the upside, resistance is located at 0.6946 (May 15 High), a break above could take it near 0.6961 (Apr. 30 High).
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