AUD/USD maintained its bullish bias well in place for the third consecutive day on Monday, surpassing the key 0.6700 barrier for the first time since mid-July in quite an auspicious session on Monday.
AUD/USD rose further and reclaimed the area above 0.6700. The Dollar’s sell-off accompanied the move higher in the pair. The RBA will publish its Minutes of the August meeting on Tuesday. After breaking through the significant 200-day SMA at 0.6601, the outlook for AUD/USD is expected to improve gradually, potentially supporting the continuation of the uptrend in the short-term horizon.
9% last quarter, is projected to fall within the 2-3% target range by late 2025. Overall, the RBA is expected to be the last among the G10 central banks to start reducing interest rates. The potential for Federal Reserve easing in the medium term, in contrast to the RBA's anticipated prolonged restrictive stance, could support the AUD/USD in the coming months. However, a slow recovery in the Chinese economy may limit the Australian dollar's rebound.
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