Australian Dollar Forecast: AUD/USD Considers Retreat Even as RBA Rate Increase Expected
Australian Dollar Faces Resistance After Strong Start
The Australian dollar began the year with impressive momentum. Yet, as several AUD currency pairs approach or test key resistance levels—or begin to pull back—it appears that expectations of a hawkish move from the upcoming RBA meeting may already be reflected in current prices.
- AUD/USD ended a nine-day winning streak on Friday, marking its most sustained rally in nearly a decade.
- AUD/CAD formed a weekly shooting star pattern at its 2023 peak, hinting at possible trend fatigue.
- AUD/JPY posted an inside week and a spinning-top doji, indicating uncertainty about surpassing the 2024 high around the 110 mark.
- AUD/NZD pulled back for the third week in a row, suggesting a pause in upward momentum.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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