AUD/USD rises 0.4% as RBA maintains hawkish stance
AUD/USD has climbed 0.4% (28 pips) to 0.6875 following upbeat comments from RBA Governor Michele Bullock, who stated the Australian economy remains 'in a good place' despite global headwinds. The governor's remarks reinforced the RBA's relatively hawkish position compared to other major central banks, supporting the Australian dollar. Australia's unemployment rate remains low at 3.7%, while inflation, though moderating, stays above the RBA's 2-3% target range at 4.1%. The central bank maintained its cash rate at 4.35% at the last meeting, signaling no immediate plans for rate cuts. Technical analysis shows AUD/USD breaking above the 50-day moving average at 0.6850, with next resistance at 0.6900. Support levels are identified at 0.6840 and 0.6820. The positive RBA tone contrasts with dovish expectations for the Fed, potentially driving further AUD/USD appreciation.
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