AUD/USD Price Forecast: Positive momentum points to further upside
AUDUSD hitting new highs The Australian dollar (AUDUSD) was up for another session before a heavy price rejection at the 0.7100 region. Price action has fallen around 30 pips but remains elevated above the 0.7100 level.
AUD/USD Price Forecast: Rising 20-day EMA supports near-term bullish bias
The Aussie enters this week with genuine hawkish backing. RBA Assistant Governor Christopher Kent reaffirmed that tighter policy is working as intended, with markets now pricing roughly a 70% chance of one final hike to 4.60% by early next year, even as inflation eased below forecasts last quarter.
AUD/USD Price Forecast: Holds breakout near 0.7100
Australian consumer sentiment rebounded sharply in August after the RBA held rates, although underlying weakness keeps the case for further tightening in check. Meanwhile, AUD/USD remains near 10-week highs but is showing early signs of fatigue around resistance ahead of Thursday's employment report.
Standard Chartered targets AUD/USD at 0.74 in three months and 0.75 in a year, with the RBA, China and commodities offering support. The Australian Dollar to US Dollar (AUD/USD) exchange rate is forecast to rise to 0.74 in three months and 0.75 over 12 months by Standard Chartered.
In this webinar we take an in-depth look at the technical trade levels for the US Dollar (DXY), Euro (EUR/USD), British Pound (GBP/USD), Australian Dollar (AUD/USD), Canadian Dollar (USD/CAD), Japanese Yen (USD/JPY), Swiss Franc (USD/CHF), Gold (XAU/USD), Crude Oil (WTI), Bitcoin (BTC/USD), S&P 500 (SPX500), Nasdaq (NDX), and Dow Jones (DJI). These are the levels that matter on the technical charts into the weekly open.
TL;DR: AUD/USD has broken out on external tailwinds — a weaker Dollar and rebounding risk appetite — but Thursday's jobs report lands in the middle of a genuine split between economists who think the RBA is done hiking and an RBA that keeps saying otherwise.
AUD/USD extended its rally to a seventh consecutive week, although momentum remains far from convincing. RBA and Fed rate expectations are finely balanced, leaving Thursday's Australian employment report as the main domestic event.
AUD/USD Price Forecast: Bulls eye 0.7100 after US Retail Sales miss
The US dollar is soft in general, but looks as if it is trying to fight back a little as we head into New York trading.