AUD/USD eyes breakout as RBA holds rates steady
|-
AUDUSD recoups some losses.
-
Immediate resistance from 61.8% Fibo.
-
RSI and stochastics suggest upside recovery.
AUDUSD is gaining ground following the RBA’s decision to keep interest rates unchanged at 3.85%, defying market expectations. The pair is once again testing the 61.8% Fibonacci retracement level of the 0.6940–0.5913 decline, currently near 0.6550, after three consecutive sessions of losses.
A sustained move above this key level could pave the way for a retest of the eight-month high at 0.6590, with further upside potential toward the four-year descending trendline near 0.6690. A breakout above this resistance would signal a shift toward a more bullish long-term outlook.
Alternatively, a drop below the short-term ascending trend line may trigger renewed downside pressure, targeting the 50.0% Fibonacci level at 0.6425 and the 200-day simple moving average (SMA) around 0.6410. Deeper support lies at 0.6370 and 0.6340.
Momentum indicators offer mixed signals: the RSI has rebounded from the neutral 50 mark, while the stochastic oscillator is attempting to recover.
AUDUSD is at a critical juncture, with the 0.6550 level acting as a key pivot. A decisive move in either direction could define the pair’s medium-term trajectory.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.