AUDUSD pair reached a new 2022 high and trades at the highest level since November 4 as investors assess whether the Reserve Bank of Australia will follow FED footsteps. Some economists expect that RBA will lift interest rates up to 1.5% this year, compared to earlier forecasts of 1.25%. The first rate hike could take place in June as the central bank said it was open to monetary tightening if the economy will continue to expand strongly. The argument for a rate hike strengthened after the labour market data showed that the unemployment rate in Australia dropped to 4.0% which is the lowest level in 14 years.
AUDUSD pair rose sharply in recent days and is currently testing key resistance at 0.7420, which coincides with 23.6% Fibonacci retracement of the upward wave launched in March 2020. If current sentiment prevails, the next target for buyers is located at 0.7550 and is marked with previous price reactions and upper limit of the 1:1 structure. On the other hand, if sellers manage to regain control, then nearest support lies at 0.7334. Source: xStation5
Chart of the Day: Is the Yen Ready for Another Round?
Daily Summary: Market euphoria shows no signs of letting up 🚀
Market Wrap: What does Trump's Beijing visit mean for the markets?
Economic Calendar: All eyes on US consumer 🇺🇸 (14.05.2026)
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
