The AUD/USD pair extends its strong uptrend witnessed over the past two weeks or so and jumps to a fresh high since February 2023, closer to the 0.7100 mark, during the Asian session on Thursday. Adding to this, a daily close above the 0.7000 psychological mark, for the first time since February 2023, validates the near-term positive outlook for the AUD/USD pair. On the 1-hour chart, an ascending channel guides the advance, with resistance near 0.7128 that could cap gains. With price pressing the channel’s upper band, the near-term bias rests on whether buyers can secure a breakout; failure there would keep the AUD/USD pair contained within the rising structure. AUD/USD daily chart