AUD The RBA is shielding the Australian dollar from a hawkish Fed. This Thursday morning. The Australian dollar displayed its resiliency. After a number of Fed policymakers made aggressive and recurrent comments about the Fed’s monetary policies moving ahead.

All panelists mentioned the potential for additional rate increases if inflation remained sticky, with a tight labor market a major factor. Many market players even placed bets on a terminal rate approaching 6%.

AUD confronted with trader’s anxieties

Following the RBA’s most recent meeting, Aussies appeared to be very dissatisfied, which may indicate that future interest rate rises will be necessary. Due to inflationary pressures.

Support for Aussie bulls is being provided today morning by a little falling dollar as well as an increase in certain significant Australian exporters.

The market will be hoping for some consistency with the previous Non-Farm Payroll (NFP) report in the key data point for today, which will be a return to the U.S. via jobless claims.

In other words, an underestimate could hurt the AUD’s exchange rate with the USD. Through their policy notes, which are expected to be aggressive tomorrow, the RBA will give us further information about their rate decision.

AUD increases bids Vs US dollar to reaffirm the intraday high.

As investors take advantage of the general US Dollar weakening and the risk-on atmosphere during in the early hours of Thursday’s lethargic session, the AUDUSD renews its intraday high near 0.6965.

The Aussie pair appears to be preparing for the heavy flow of data the following day, which will include the Reserve Bank of Australia‘s (RBA) monetary policy document with data focusing on US consumers as well as China inflation.

AUD Traders are looking for risk averse News

The risk-barometer Australian dollar’s prices are currently being driven by the risk-positive news stories concerning China.

The People’s Bank of China (PBOC) rate cuts and the relaunch of the China-based companies’ listing on American exchanges to support a danger mood in the bloc That are significant amongst them as are the receding worries of the US-China tensions after the US’s shooting of the China balloon.

Aussie may be looking for a surge Vs, US dollar

In contrast, the rise in the AUD/USD pair, which weighs on the US Dollar, may also be related to the decline in yields. However, rates are dependent on the market’s reevaluation of the hardline Fed conversations.

As Chairman Jerome Powell hesitant to praise the job numbers as Fed Governors Christopher Waller, John Williams, and Lisa Cook underline inflation concerns to predict future rate hikes from the US reserve bank.

Additionally, remarks by US politicians like President Joe Biden and Treasury Secretary Janet Yellen heightened concerns about inflation and expressed optimism that the US would avoid a recession. This indicates that the Fed should raise its benchmark interest rates now rather than later.

Looking ahead on coming reports and data

In the near future, intraday speculators may find entertainment in the US Weekly Jobless Claims, but traders of the AUDUSD pair will need to pay close attention to the RBA Monetary Policy Statement on Friday and China’s inflation data.

However, the RBA’s most recent aggressive remarks as well as the confidence associated with Beijing will be put through their paces on Friday.

AUD Technical Analysis

Bulls have been resolute in their attempts to keep the price of the AUD/USD above the trendline support on a daily basis (black). While the USD is largely to blame for the AUDUSD price changes, data reliance will become increasingly important in the future.

According to the Relative Strength Index (RSI), momentum is lagging, supporting neither positive nor bear trends. A breach and candle closure, though, must be beneath the psychological support level of 0.6900 or above the handle of 0.7000. (likely as a result of a fundamental catalyst).

Markets would benefit from a short-term direction skew as a result. The pro-growth currency will experience a significant drop when the trendline support and 50-day SMA are broken at 0.6900.

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TECHNICAL ANALYSIS

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