AUD/USD extended its upside movement from 0.7020 to as high as 0.7337. Support is at 0.7160 and as long as this level holds, the upside movement could be expected to continue.

The next target would be at the 0.7500 area. On the downside, a breakdown below 0.7160 support would indicate that the upside movement had completed at 0.7337 already, then a further decline towards 0.7020 support could be seen.