AUD/USD trades better in early Europe, consolidating the rally to two-day highs of 0.7391, reached in response to broad-based US dollar sell-off and upbeat Australian Q3 GDP. Australia's economy expanded by 3.3% in Q3, rebounding from its first recession in nearly three decades induced by the pandemic-related shocks. The price spotted a bullish crossover on the hourly sticks in the last hour.
The next relevant upside target is seen at $0.7437, multi-month tops. On the flipside, an immediate downside remains at 0.7365. Selling pressure could intensify below the 0.7348.