AUD Slides Below 0.7050 After RBA Governor Bullock's Hawkish Note

The Australian Dollar (AUD) experienced moderate declines against the US Dollar (USD) after Reserve Bank of Australia Governor Michelle Bullock's speech on Tuesday. The AUD/USD spiked down below 0.7050, from Monday's highs near 0.7075, as Bullock addressed the press following the bank's monetary policy decision.

Bullock hinted at a likely interest rate hike in the coming months and affirmed that economic growth needs to slow down to bring inflation lower. The RBA had left its benchmark interest rate unchanged at 4.35%, as widely expected.

The AUD/USD hovers around 0.7050, holding within an upward-sloping parallel channel with a mildly bullish near-term bias. However, momentum indicators have retreated into neutral territory, hinting at waning upside pressure rather than a decisive reversal.