Retreating But Not Defeated: AUD/USD Bulls Find Hope In Technical Support And Hawkish RBA

MarketPulse by OANDA Group558 FollowersFollow5ShareSavePlay(4min)CommentsSummaryAUD/USD fell over 1% from a multi-year peak as the US Dollar strengthened amid intensifying safe-haven demand.The hawkish Reserve Bank of Australia (RBA) may limit the downside, driven by escalating inflation pressures.The pair has retreated to a key technical inflection point between the 100-day MA (0.7072) and 200-day MA (0.7051), where the RSI is now signaling a potential shift in momentum in favor of bulls. MicroStockHub/iStock via Getty Images By Zain Vawda AUD/USD fell 1%+ on Thursday, with the pair reacting to a resurgent US dollar as safe haven demand intensified due to Middle East tensions. AUD/USD was trading at a multi-year peak, and thus a retracement mayThis article was written byMarketPulse by OANDA Group558 FollowersFollowMarketPulse is an award-winning industry analysis and news site service created by OANDA Business Information & Services, Inc. Covering forex, commodities, global indices and more, our goal is to give timely, relevant and informative commentary on major macroeconomic trends, technical analysis and worldwide events impacting the industry.