The ongoing selling pressure on the US Dollar (USD) supported extra gains in AUD/USD, pushing it to four-day highs near 0.6680 on Tuesday.
AUD/USD advances for the third session in a row on Tuesday. Further losses in the US Dollar givefresh additional wings to the pair. Australia n preliminary Retail Sales surprised to the downside in April. The ongoing selling pressure on the US Dollar supported extra gains in AUD/USD, pushing it to four-day highs near 0.6680 on Tuesday.
The RBA's economic forecasts indicate that inflation will remain high until Q2 2025, driven by service price inflation, before returning to the 2%–3% target range by late 2025 and reaching the midpoint by 2026. Investors currently expect the RBA to keep its Official Cash Rate unchanged at its June 18 meeting, with no rate cuts anticipated this year.
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AUD/USD Forecast: Extra gains remain on the cards near termThe mild rebound in the US Dollar (USD) sparked some renewed selling bias in broad risky assets, motivating AUD/USD to return to the negative zone after hitting fresh four-month peaks just above the 0.6700 barrier on Thursday.
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AUD/USD Forecast: Extra advance now looks to the RBAMonday’s irresolute price action in the US Dollar (USD) encouraged AUD/USD to trespass the key 0.6600 barrier and trade once again at shouting distance from recent peaks near 0.6650.
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AUD/USD Forecast: Further gains retarget 0.6650Thursday saw another negative session of the US Dollar (USD), prompting AUD/USD to build on Wednesday’s gains and extend the trespass of the 0.6500 barrier along with the key 200-day SMA (0.6520).
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AUD/USD Forecast: Further gains appear likely near termMonday witnessed renewed selling pressure on the US Dollar (USD), prompting AUD/USD to maintain its upward momentum for the second week in a row and briefly poke with the provisional 100-day SMA in the 0.6580-0.6585 band, or three-week tops.
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AUD/USD Forecast: Further upside retargets the 0.6700 barrier and beyondThe continuation of the selling bias in the US Dollar (USD) helped AUD/USD extend its recovery further north of 0.6600 the figure in a quite positive start to the new trading week.
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AUD/USD gathers strength above 0.6630 on weaker US DollarThe AUD/USD pair edges higher to 0.6632 during the early Asian session on Monday.
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