AUD Suffers Losses Amid RBA Comments and Weaker US Data

The Australian Dollar (AUD) has underperformed its major currency peers on Wednesday, trading 0.17% lower at around 0.7070 against the US Dollar (USD) during the European trading session.

RBA Deputy Governor Andrew Hauser kept the door open for further monetary policy tightening, but the AUD still faced selling pressure despite this.

The Reserve Bank of Australia's comments may have been seen as dovish by some investors, but the US Dollar also trades lower due to weak United States data for July.

AUD/USD technical analysis suggests a near-term bullish bias, with the 20-period exponential moving average (EMA) at 0.7045 providing support for the pair.