AUD/USD: Australian dollar attempts to breakout at 0.72105; RBA interest rates decision at 14.30 hrs

Denis Joeli Fatiaki Independent Analyst

AUD/USD: Australian dollar attempts to breakout at 0.72105; RBA interest rates decision at 14.30 hrs

What is going on now with AUD/USD?

AUD/USD: The Australian dollar held on above 0.71880 and had been consolidating for the past 24 hours between 0.72105 and 0.71880. The pair trades well above its 500 EMA which is a positive sign in its future price movements. However, The Australian dollar needs to break and maintain above 0.72105 to continue to the upside.

Our forecast

AUD/USD: The Australian dollar currently trades at 0.72129 and could continue to 0.72365 if it maintains above 0.72105. The pair could pullback to 0.71580 and 0.71360 if it fails to sustain above 0.71880.

Support - 0.71880, 0.71580, and 0.71360

Resistance/ Target - 0.72365, 0.72520, 0.72600, and 0.72990

Chart 1: The short-term view of the AUD/USD price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points

Chart 2: The short-term view of the AUD/USD price action in the four hours price chart highlights the direction of the trend and the support and resistance price points

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

EUR/USD clings to gains around 1.1800

EUR/USD manages to regain composure and retests the 1.1800 region in quite a positive start to the week. The pair’s bounce follows the US Dollar’s offered stance post-SCOTUS ruling ahead of important US data and Fedspeak on Tuesday.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Ethereum Price Forecast: BitMine's holdings reach 4.42 million ETH as Fundstrat predicts 87% win-ratio

Ethereum (ETH) treasury firm BitMine Immersion Technologies (BMNR) scooped up 51,162 ETH last week, marking its largest purchase since December.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.