AUD/USD Eyes Upswing Amid Hawkish RBA Stance

Societe Generale's Kenneth Broux notes that the AUD/USD has been in an uptrend, defending its 200-DMA and forming a series of higher highs and higher lows. This pattern is significant, as it suggests that the pair is moving upwards.

The recent pullback in November 2025 found support around the 200-DMA, which reinforces its importance as a key moving average. The AUD/USD has since advanced, but its progress has stalled near the 100-DMA.

However, a hawkish Reserve Bank of Australia (RBA) hold could spur further short covering, leading to an increase in price. Key upside objectives are highlighted around 0.7120 and the June highs near 0.7200/0.7275.