FXStreet reports that Terence Wu, FX Strategist at OCBC Bank, expects the Australian dollar to stay supported in the near-term.

“The AUD/USD bullish trajectory remains intact, with technicals still pointing to further upside for the aussie.”

“With risk environment supportive and RMB still on a firming stance, do not rule out further upside for this pair.”

“0.7750 may be the immediate target for now, but expect further extension higher.”