AUD/USD Price Forecast: Hawkish RBA bets support rally towards 0.7275
The Australian Dollar (AUD) is up 0.2% to near 0.7185 against the US Dollar (USD) during the European trading session on Thursday. The Aussie pair strengthens as hotter-than-projected Australian Consumer Price Index (CPI) data for July has prompted hawkish Reserve Bank of Australia (RBA) prospects.
The Australian Dollar (AUD) reached near 0.7185 against the US Dollar (USD) in European trading on Thursday, buoyed by stronger-than-anticipated July Consumer Price Index (CPI) data that stoked expectations of a hawkish Reserve Bank of Australia (RBA). AUD/USD is currently trading at 0.7185, showing a bullish near-term trend after breaking above the 20-day Exponential Moving Average (EMA) at 0.7100.
The Relative Strength Index (14) currently sits at 69.2, indicating a strong but potentially overextended upside momentum. Technical analysts forecast AUD/USD could rally towards the four-year high of 0.7276.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
