FXStreet reports that Westpac discuss AUD/USD prospects.

“After last week trading the tightest weekly range since November, AUD/USD finally broke out on Wednesday and probably in the ‘right’ direction. A basket of Australia’s key commodity prices has been ticking higher, helping our short-term A$ fair value estimate to a 5-week high around 0.7850 mid-point.”

“Australia’s data continues to reinforce the case for upside. NAB March business conditions hit a record high, Westpac April consumer sentiment reached a 10 year high. With global risk appetite resilient and DXY price action unimpressive, AUD/USD should extend gains towards 0.7775, finding buyers around 0.7670/80.”