AUD/USD fades a spike to 0.7305 – 3-week tops

Bears continue to guard the fencing above the 0.7300 level.
Supported on USD weakness, S&P’s outlook upgrade ahead of US data.

Dhwani Mehta FXStreet

The AUD/USD pair broke its upside consolidation phase in early Europe and peeped briefly above the 0.73 handle before meeting fresh supply to now revert towards the 0.7285 region.

AUD/USD ignores higher copper prices?

Despite the ongoing weakness in the US dollar and the rally in copper prices, the Aussie lacks further upside momentum, as the US-China trade rhetoric appears to keep the investors slightly unnerved.

The spot, however, manages to hold near three-week tops of 0.7304, as the sentiment remains underpinned by S&P’s upgrade revision to the Australian outlook. S&P raised Australia's outlook to stable from negative

Meanwhile, the US dollar hovers near two-month lows of 93.82 versus its main peers, as the risk-on sentiment returned to markets following record highs scored on the Wall Street indices.

Looking ahead, in absence of first-tier macro news from the US, the sentiment on the Wall Street and USD dynamics will continue to influence the pair.

AUD/USD Technical Levels

FXStreet’s Analyst Omkar Godbole noted the key technical levels for trading the Aussie today.

“Resistance: 0.7303 (trendline hurdle + 50-day MA), 0.7382 (Aug. 21 high), 0.7395 (100-day MA).

Support: 0.7248 (5-day MA), 0.72 (psychological support), 0.7189 (200-hour MA).”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

USD/JPY keeps range above 160.00 ahead of BoJ press conference

USD/JPY holds losses and maintains its range above 160.00 on Tuesday, following the release of the Bank of Japan monetary policy decision. The BoJ hiked the key rate by 25 bps to 1% as widely, providing little to no impetus to the Japanese Yen. The focus is now on the BoJ Deputy Governor Uchida's press conference.

AUD/USD sticks to red near 0.7050 as RBA's Bullock speaks

AUD/USD remains in the red near 0.7050 following the Reserve Bank of Australia's (RBA) expected decision to pause its rate hike cycle. The pair now weighs RBA Governor Bullock's press conference for a fresh trading impetus.

$4,400: Gold sellers set to retain control whilst below this level; focus shifts to Fed

Gold holds a pullback from six-day highs of $4,369 as buyers take a breather early Tuesday. The US Dollar looks to fill Monday’s bearish opening gap as markets temper Iran deal optimism. Technically, Gold remains exposed to downside risks whilst below the 21-day SMA near $4,400.

Bitcoin weighs BOJ rate hike to 1%, Uniswap and LayerZero sustain

Bitcoin is holding above $65,000 at press time on Tuesday as the Bank of Japan (BOJ) raises its interest rate to 1%, shifting focus away from the US-Iran peace agreement. Uniswap (UNI) and LayerZero edge lower on Tuesday but outpace the broader market over the last 24 hours as the retail sentiment recovers.

Kevin Warsh opens first Fed meeting June 16 with rate hold expected

Kevin Warsh was confirmed by the Senate in a 54-45 vote and sworn in as Federal Reserve Chair on 22 May 2026. The ceremony took place at the White House, with Supreme Court Justice Clarence Thomas administering the oath. The FOMC meeting on 16 and 17 June is his first as chair. The June meeting is also a quarterly projection meeting.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.