AUD/USD rises further to four-week highs above 0.6730

US Dollar continues to slide against antipodean currencies.
Australian Dollar is the top performer among major currencies this week.
AUD/USD is trading at its highest level since May 11.
The AUD/USD continued to rise and reached a fresh four-week high near 0.6740. The pair has held onto strong weekly gains, supported by a hawkish Reserve Bank of Australia (RBA) and a weaker US Dollar.

Matías Salord FXStreet

The Greenback remains under pressure on Friday, particularly against antipodean currencies, which are outperforming. While the RBA and Bank of Canada have raised rates, expectations are that the Federal Reserve (Fed) will hit the pause button next week. At the same time, an improvement in market sentiment is also helping to boost demand for the AUD and NZD.

On Friday, China reported that the Consumer Price Index rose 0.2% YoY and the Producer Price Index was at -4.6% YoY. The numbers show that the impact of the reopening remains limited. Low inflation numbers keep the door open to more stimulus from Chinese authorities.

Best week in months for the Aussie

The RBA's rate hike and Governor Lowe's comments about persistent inflation testing the board's patience offered a boost to the Australian Dollar. Risk-on flows and technical factors added fuel to the AUD/USD rally. Weak data from China was mostly ignored.

The AUD/USD has risen almost 150 pips during the week, marking its best performance since January. The price is currently testing the 20-week Simple Moving Average (SMA), and a clear close above it would suggest that more gains are on the table. In the daily chart, the AUD/USD is testing the 100-day SMA and is starting to consolidate above the 0.6715/20 resistance area.

The technical outlook for the Aussie is positive. However, the main risk at the moment could come from a reversal in risk flows and a hawkish surprise from the Federal Reserve next week.

AUD/USD weekly chart

AUD/USD

Overview
Today last price	0.6736
Today Daily Change	0.0020
Today Daily Change %	0.30
Today daily open	0.6716

Trends
Daily SMA20	0.6608
Daily SMA50	0.6662
Daily SMA100	0.6743
Daily SMA200	0.6691

Levels
Previous Daily High	0.6718
Previous Daily Low	0.6652
Previous Weekly High	0.6639
Previous Weekly Low	0.6458
Previous Monthly High	0.6818
Previous Monthly Low	0.6458
Daily Fibonacci 38.2%	0.6693
Daily Fibonacci 61.8%	0.6677
Daily Pivot Point S1	0.6673
Daily Pivot Point S2	0.6629
Daily Pivot Point S3	0.6606
Daily Pivot Point R1	0.6739
Daily Pivot Point R2	0.6762
Daily Pivot Point R3	0.6805

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

AUD/USD remains depressed near 0.6950 after RBA minutes

AUD/USD attracts follow-through selling during Tuesday’s Asian session, looking to extend the overnight rejection slide from 0.7000, or a two-week top, following the release of RBA meeting Minutes. The US Dollar retains a bullish undertone near its highest level since April 2025 as energy-driven inflation risks keep December Fed rate hike bets firmly on the table. Adding to this, geopolitical risks further underpin the safe-haven USD.

USD/JPY extends retreat below 158.50 as intervention risks loom

USD/JPY is dropping below 158.50 in the Asian session on Tuesday, snapping a two-day winning streak and pulling back from an over two-week top touched the previous day, despite Japan's soft PPI inflation print. Bulls turn cautious amid speculation that authorities will step in to prop up the Japanese Yen, which, in turn, weighs on the pair.

Gold bulls seem hesitant below $4,200 as hawkish Fed offset USD weakness

Gold retains a mildly positive bias though it remains capped below the $4,200 mark and the top boundary of a two-week-old trading range. The US Dollar retreats from its highest level since April 2025 amid some profit-taking, offering support to the precious metal. However, the US Federal Reserve's hawkish stance and escalating Middle East conflicts could limit deeper losses for the safe-haven buck, keeping a lid on the commodity and warranting some caution for aggressive bulls.

Solana reclaims 50-day EMA amid tokenization expansion

Solana (SOL) trades above $107 on Tuesday, reclaiming the 50-day EMA after closing below it the previous day. Meanwhile, Solana’s tokenization expansion and the upcoming listing of Hong Kong’s second spot Solana Exchange Traded Fund highlight growing institutional interest.

Dollar corrects as markets watch bank earnings

The US Dollar remains broadly strong but is now correcting, with a possible retest of the breakout zone around 102 on the Dollar Index. Equity markets are showing a mixed picture: the S&P 500 and Nasdaq are weaker, while blue-chip indices such as the Dow Jones and DAX are moving higher.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?