AUD/USD Price Forecast: Softens below 0.7150 after RBA rate hike, but maintains bullish bias
AUD/USD is holding above key support near 0.71 following the RBA's latest rate hike, although momentum has softened as Australian bond yields edged lower. While the central bank lifted its cash rate outlook, the move largely aligned with market expectations, limiting the upside response in the Australian dollar.
AUD/USD hovers near 0.7130 ahead of the RBA rate decision, with markets fully pricing a third consecutive 25 bps hike to 4.35%. The pair remains in a bullish structure above key support, with potential upside toward 0.7200 and beyond if the RBA maintains a hawkish tone.
AUD/USD slips below 0.72 as RBA decision looms
The Australian dollar has started the week with a slight short-term weakness, as AUD/USD posted a decline of around 0.5% in the first session. However, this move does not change the broader picture, as the pair remains in a predominantly bullish trend, with market focus now centered on today's Reserve Bank of Australia decision, which could be key in shaping AUD strength in the near term.
AUD/USD falls ahead of RBA decision, Middle East noise limits upside
The RBA is set to hike again in the upcoming Asian session—but that's not the real story. Markets have largely priced in a 25 basis point move to 4.35%, and the focus has already shifted to what comes next.
AUD/USD: RBA hike expectations support pair – Commerzbank
AUD/USD Price Forecast: Consolidates above 0.7200, highest since June 2022 ahead of RBA
AUD/USD is testing 0.72 ahead of the RBA meeting, but momentum is beginning to fade after a strong multi-week rally. While the uptrend remains intact, positioning is stretched and price action shows signs of hesitation near resistance.
Positioning data shows traders leaning into AUD strength, rebuilding CAD longs and pressing GBP shorts ahead of the BoE. USD exposure remains elevated, while NZD continues to lag with persistent net-short positioning.
AUD/USD Price Forecast: Remains bullish despite hovering around 0.7200