Following Monday’s fresh 2024 lows near 0.6350, AUD/USD managed to regain some composure and advance north of 0.6500 the figure on turnaround Tuesday, returning at the same time to the positive territory on the weekly chart.
AUD/USD rebounded to two-day highs above 0.6500. The RBA kept its rate unchanged at 4.35%, as expected. The AUD found support on the hawkish message from the RBA . The AUD’s initial focus, in the meantime, remains on the critical 200-day SMA at 0.6592. While below this region, the negative bias is expected to prevail in the pair.
” Overall, the RBA is expected to be the last among the G10 central banks to start cutting interest rates. Potential easing by the Federal Reserve in the medium term, contrasted with the RBA's likely prolonged restrictive stance, could support AUD/USD in the coming months.
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