Just noticing AUD/USD is running pretty nicely right now, sitting around 0.7170 against the dollar. If you're looking at 101 usd to aud conversions, the Aussie is definitely looking stronger than it was a few weeks back. Risk sentiment is helping - the whole market is in a better mood with those ceasefire talks between the US and Iran seeming closer to a deal. S&P 500 futures are holding gains from yesterday around 7,040, so money is flowing into riskier assets and that's lifting the commodity currencies.

On the domestic side, the RBA is still expected to keep hiking rates this year, probably another 55 basis points or so to get the OCR to 4.65%. That's supporting the Aussie too since higher rates tend to attract capital. Technically, the pair is looking solid - it's trading above the 20-day moving average at 0.7051 and that's acting as decent support. RSI is around 65, so there's bullish momentum but nothing crazy overbought yet.

The big level to watch is 0.7200 - if AUD/USD can break above that decisively, I reckon we could see a run toward 0.7300. As long as 0.7051 holds as support, the bias stays upside. Just watching to see if this rally has legs or if we get a pullback first.