From Chris Weston:
AUD/USD has rallied 14% since the January lows (9% on a trade-weighted basis), helped by a number of factors. Anyone who aligns their trading bias to the underlying trend would see little reason to short the pair right now and the fundamental story clearly supports higher levels. The backdrop for AUD appreciation is about as good as it gets, so standing in the way of that is not something I am prepared to do. In fact, my preference is to stay long until proven wrong.
Specifically, the key supportive factors are:
