The RBA delivered its second consecutive rate hike as recent inflation rebounds amid a robust labor market and resilient economic growth. The 5-4 split vote underscores a tightening bias among policymakers. Meanwhile, Middle East tensions exert upward pressure on Australian inflation, where surging energy prices threaten a 5% peak this year, likely prompting further RBA tightening. As the first major central bank to pivot hawkishly, the RBA has added further strength to the Aussie dollar.
Technically, AUDUSD remains rangebound with price action oscillating around flattening EMAs, indicating consolidation. Following the meeting results, AUDUSD may soften to test support at 0.7032.
If AUDUSD maintains this level, the price could rebound toward 0.7088 resistance, with potential extension to 0.7134.
Conversely, a break below 0.7032 could drive AUDUSD toward the lower trendline support near 0.6988.
By Van Ha Trinh - Financial Market Strategist at Exness
Technically, AUDUSD remains rangebound with price action oscillating around flattening EMAs, indicating consolidation. Following the meeting results, AUDUSD may soften to test support at 0.7032.
If AUDUSD maintains this level, the price could rebound toward 0.7088 resistance, with potential extension to 0.7134.
Conversely, a break below 0.7032 could drive AUDUSD toward the lower trendline support near 0.6988.
By Van Ha Trinh - Financial Market Strategist at Exness
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.