Forex
AUD/USD Faces Resistance as RBA Maintains Hawkish Tone
The Australian Dollar (AUD) has been showing signs of recovery against the US Dollar (USD), but it seems to have met resistance in the 0.7070-0.7080 band so far.
Despite this, the AUD/USD pair is still expected to push through its key 200-day SMA, currently around 0.6930, and potentially reach 0.7100 or even retest the 2026 ceiling near 0.7280.
The Reserve Bank of Australia (RBA) maintained a hawkish tone in its latest decision, keeping the Official Cash Rate (OCR) unchanged but retaining a clear tightening bias due to high inflation and upside risks.
The RBA expects inflation to remain above 3% until mid-2027, with headline inflation forecast at 3.6% in Q4 2026, 2.6% in Q4 2027, and 2.4% in Q4 2028.