On Wednesday, the resumption of the buying interest on the US Dollar (USD) prompted AUD/USD to fade the initial push to the 0.6530 region, or multi-session highs, an area also coincident with the key 200-day SMA.
AUD/USD finally surpassed the 0.6500 barrier. The rebound in the Greenback weighed on the pair. Australia n inflation figures surprised to the upside. On Wednesday, the resumption of the buying interest on the US Dollar prompted AUD/USD to fade the initial push to the 0.6530 region, or multi-session highs, an area also coincident with the key 200-day SMA.
Both the RBA and the Fed are among the last G10 central banks expected to consider interest rate adjustments this year. Given the Fed's firm stance on tightening monetary policies and the potential for the RBA to initiate an easing cycle later in the year, AUD/USD is likely to face sustained downward pressure in the short and medium terms.
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