The Australian share market opened higher on Thursday.
At 10:10 a.m. local time (AEST), the benchmark S&P 200 index was up 24.29 points at 5,396.8, while the broader All Ordinaries index was up 23.31 points at 5,460.1.
IG market analyst Angus Nicholson said in a note on Thursday it would be an interesting day for the ASX as it battles with its psychological bête noire -- the 5,400 level.
"The ASX has not managed to close above this level since 11 August, and it would be hugely significant for market sentiment if it managed to do so today," Nicholson said.
"While the ASX has performed incredibly strongly in April and May, the collapse in the Aussie dollar during that period has helped U.S. dollar earners immensely."
At the open, ANZ was up 1.07 percent, the Commonwealth Bank of Australia gained 0.59 percent, the National Australia Bank was up 0.07 percent, and Westpac gained 0.79 percent.
Rio Tinto opened 0.92 percent higher, while BHP Billiton was up 3.6 percent.
Woodside was up 1.62 percent.