2026-10-23 Readings lean neutral
AUD/USD hovers near 0.7012 as traders weigh RBA inflation warnings against a soft US Dollar
The Australian dollar is trading flat against the US dollar today. Recent hawkish comments from the Reserve Bank of Australia have provided support, while the greenback remains broadly weaker. The market is currently lacking a clear directional bias as it consolidates.
Trend and momentum
The four-hour trend shows a ranging market, while the one-hour structure points down. Momentum indicators are mixed, with the four-hour RSI at 54.87 and the one-hour RSI at 46.1 alongside a bearish MACD cross. Price action remains inside the hourly Bollinger Bands without a squeeze, and only 42 percent of the average daily range has been used so far today.
Key levels
The pair is trading near last week's high of 0.70134. Immediate resistance sits at yesterday's high of 0.70367, which also marks the top of the recent four-hour range, and a break above this could signal further upside. On the downside, yesterday's low at 0.69942 provides initial support, followed by the four-hour range low at 0.69365 and last week's low at 0.68942.
News and events this week
The Australian dollar recently found support after RBA Deputy Governor Andrew Hauser warned that the inflation outlook has deteriorated. Meanwhile, the US dollar has struggled to find demand amid lower Treasury yields. Traders are watching the US economic calendar this week, which features Initial Jobless Claims on October 22 and Revised UoM Inflation Expectations on October 23, alongside upcoming US Advance GDP and Core PCE data.
What would push it higher
If the pair breaks above yesterday's high of 0.70367, it could attract buyers looking to capitalize on the RBA's hawkish stance. Continued weakness in US economic data would further support an upward move.
What would push it lower
If price drops below yesterday's low of 0.69942, sellers might take control of the short-term trend. Stronger-than-expected US inflation or GDP data could also drive the pair lower.
The engine has no open signal on this pair. Today's signals →