AUD/USD keeps firm tone and hit new (marginally higher) one-month high on Wednesday, underpinned by renewed risk appetite on growing hopes on a peace solution between the US and Iran.
AUD/USD rises as US-Iran talks bolster risk sentiment, soft US PPI undercuts Dollar
AUD/USD: Limited near term upside within 0.7100–0.7155 – UOB
AUD/USD: Jobs risk and RBA path underpin upside – ING
AUD/USD forecast: technical breakout reclaims 0.7100 with 0.71875 the next test. Why a dovish turn from the RBA is off the table — and what it means for the path to 0.7300.
AUD/USD extends rally but stalls near 0.7150 as consumer confidence slumps
AUD/USD has mounted a strong recovery in recent weeks, reversing a sharp pullback and driving price back into a pivotal resistance zone. The rebound highlights a shift in near-term momentum, but the broader outlook now hinges on how price reacts at this key barrier.
AUD/USD Price Forecast: Trades below 0.7100 as bulls turn cautious near four-week top
If we cut through the noise of the past week, traders still appear hopeful that a ceasefire can hold or that a broader deal can be reached. Risk assets rallied on the announcement of last week's ceasefire, yet sentiment has largely held up despite it being quickly annulled.
Looking at the 4-hour chart, the pair settled above the 0.7040 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). A high was formed at 0.7102, and the pair is now consolidating gains.
The Australian Dollar has undergone a significant shift in momentum over the past few sessions. After a period of corrective price action, AUD/USD appears to be finding its feet, buoyed by a successful defense of critical support zones and a breakout of descending trendline resistance.
AUD/USD turns bullish across multiple timeframes, targeting 0.71875 as long as the pair holds above the newly reclaimed daily 21-EMA.