The Australian dollar rallied as risk appetite made its way back. The pair has been looking to consolidate its gains after it broke July’s high at 1.5400. The new demand zone above 1.5280 and over the 30-day moving average has seen a resurgence of buying interests. However, a bounce above 1.5520 was short-lived and now the ball is in the buyers’ court. 1.5400 is an important line to keep the current rebound valid. Its breach would lead to a retest of 1.5280. 1.5500 is a fresh hurdle before the single currency could bounce back.
