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May 26 - 07:55 PM

AUD/USD - Bounces Ahead Of Support, Inflation Data This Week Key

By Krishna K  —  May 26 - 06:10 PM
  • AUD/USD likely to remain bid on dips after bouncing ahead of 0.6580 support

  • Closed 0.35% higher Friday after trading in a 0.6592-0.6636 range

  • A higher 0.6550-0.6750 range forms as Fed, RBA reiterate status quo on rates

  • Robust U.S. economy, fading Fed rate cut expectations will cap AUD rallies

  • AUD downside limited as RBA rate cut expectations also pushed back

  • RBA 25bps cut now not fully priced in till July 2025

  • U.S. PCE price index, Australia CPI this week key for rate outlook

  • Support 0.6600-05, 0.6580, resistance 0.6650, 0.6675-80; U.S. holiday Mon

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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