AUD/USD: Unilateral RBA tightening supports currency – TD Securities
The Australian dollar continues to strengthen, pushing to fresh 2021–2022 highs, supported by a combination of the Reserve Bank of Australia's tight monetary stance and a weaker US dollar. This week's rate hike by the RBA has been a key driver, widening yield differentials and boosting demand for the Australian currency, which has reinforced the ongoing uptrend.
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Michael Boutros, Senior Market Analyst at StoneX, breaks down the Australian dollar breakout as AUD/USD pushes through multi-week resistance toward a critical technical zone. He outlines the key levels driving the move, including near term resistance at 7295–7308 and support at 7214–7208, while explaining what traders need to see to validate further upside.
Today's advance broke about two-week consolidation range (0.7222/27) as well as above upper 20-d Bollinger band (0.7247), on track to generate fresh bullish signal on close above these levels.
On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase from 0.7100. The Aussie Dollar was able to clear 0.7100 to move into a positive zone against the US Dollar.
AUD/USD Price Forecast: Rallies to June 2022 high, closer to mid-0.7200s on weaker USD
AUD/USD edges higher as the RBA hikes, but gains stay limited
AUD/USD is trading just below pivotal resistance at the yearly highs with the bulls eyeing a breakout after the RBA delivered a third consecutive rate hike. The rally has been marked by waning momentum and the focus early in the month is on a reaction at this key technical hurdle.
AUD/USD surges near 0.7197 after RBA hike, weakened US Dollar