AUD/USD pushes near four-year highs as Iran deal hopes weigh on US Dollar
AUD/USD rallies as Iran-US deal hopes outweigh strong ADP jobs data
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
AUD/USD: RBA pause signal caps upside – BBH
AUD/USD: Dovish RBA tone tempers upside – TD Securities
AUD/USD: Consolidation risk after RBA pause – Societe Generale