AUD/USD: The Australian dollar rallied to an 8-week peak on news that the country’s conservative government looked set to secure the required support to pass A$158 billion worth of tax cuts over the next decade. The Aussie trades 0.1 percent up at 0.7033, having hit a high of 0.7047 earlier, it’s highest since May 7. Immediate support is seen at 0.6977 (10-DMA), a break below targets 0.0.6941 (June 25 Low). On the upside, resistance is located at 0.7069 (Apr. 30 High), a break above could take it near 0.7102 (Apr. 24 High).