AUD/USD: The Australian dollar rallied to a 3-1/2 week peak after domestic gross domestic product figures showed the economy grew 0.4 percent in the three months ended March, double the 0.2 percent recorded in the fourth quarter. The Aussie trades 0.1 percent up at 0.6996, having hit a high of 0.7004 earlier, it’s highest since May 10.
Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6935 (May 14 Low), a break below targets 0.6881 (May 24 Low). On the upside, resistance is located at 0.7029 (May 2 High), a break above could take it near 0.7061 (May 1 High).
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