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AUD/USD dips near 0.7150 ahead of RBA Minutes
The RBA kept its cash rate at 4.35% in August, with Governor Michele Bullock saying the board did not discuss a rate cut, traders will be watching for any shift in tone in the Minutes.
AUD/USD is pulling back toward the 0.7150 area, consolidating just below recent multi month highs, as traders await the Reserve Bank of Australia Minutes later in the Asian session, FXStreet said.
At the RBA’s August meeting, the central bank held the cash rate target at 4.35% after three earlier hikes, a unanimous decision, with Governor Michele Bullock describing policy as restrictive and tight and saying the board did not discuss a rate cut, with only a hike or a hold considered.
FXStreet added that traders are looking for any indication in the Minutes that the RBA is softening its stance or moving toward the cuts the market had been expecting heading into 2027, which would also influence Australian yields and the currency’s support near recent highs.
The piece also cited technical levels, noting AUD/USD around 0.7153, holding above the 20 period and 100 period simple moving averages, with resistance clustered near 0.7158 and 0.7167 and initial support around 0.7149.