RBA decision in focus with hawkish bias: Markets are pricing a third consecutive 25 bps hike from the Reserve Bank of Australia to 4.35%, with guidance from Governor Bullock key for shaping expectations on further tightening and AUD direction.
AUD/USD holding bullish structure for now: AUD/USD remains supported above 0.7130 within an ascending channel, with upside potential toward 0.7200+ if momentum holds.
Downside risks tied to policy tone: A break below 0.7055 (50-day MA) could trigger a bearish reversal, especially if the RBA signals demand destruction risks from persistently high oil prices.
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By Kelvin Wong
The Reserve Bank of Australia will set its monetary policy today at 12.30 pm (SGT), followed by Governor Bullock’s press conference at 1.30 pm (SGT).
