AUD/CAD Breakout Sparks Bid Above Bradman Barrier

The AUD/CAD currency pair has broken through its highest level since early 2021, fueled by a significant hawkish repricing of the Reserve Bank of Australia's (RBA) interest rate outlook.

This change in perspective is opposite to what's been seen in Canada and is accompanied by strong gains in industrial commodities. However, before longs get too excited about a resumption of the prior bullish trend, one familiar number stands between the pair and a potential run above parity: 0.9994.

This level matches Sir Donald Bradman's famous Test batting average of 99.94. If AUD/CAD can clear the 'Bradman barrier', there's little obvious technical resistance until above 1.02.