AUD/USD Holds 0.6750 Support Despite Weak Jobs Data on Hawkish RBA
AUD/USD maintained channel support at 0.6750, trading flat at 0.6755 as hawkish RBA meeting minutes offset disappointing Australian employment data. The Reserve Bank of Australia's minutes revealed ongoing concerns about persistent inflation, suggesting interest rates may need to remain elevated longer than previously anticipated. This hawkish stance provided crucial support for the Australian dollar despite weaker-than-expected jobs figures. NZD/USD also benefited from regional sentiment, rising 0.1% to 0.6120. Technical analysis shows AUD/USD respecting its ascending channel support, with resistance at 0.6800. The currency pair's resilience suggests traders are prioritizing the RBA's hawkish stance over short-term employment weakness. Further gains could materialize if upcoming Australian inflation data supports the central bank's cautious approach to rate cuts.
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