AUD/USD climbs after hawkish RBA remarks, rising Q3 inflation

💡 DMK Insight

AUD/USD hitting 0.6520 is more than just a number—it’s a signal of shifting market dynamics. The 0.6520 level could act as a crucial resistance point, especially if the pair continues to rally. Traders should keep an eye on broader economic indicators, particularly Australian employment data and U.S. inflation figures, as these will likely influence the pair’s trajectory. A sustained break above this level could attract momentum traders, pushing the price higher, while failure to hold could lead to a quick reversal. It’s worth noting that the recent uptick comes amid a backdrop of fluctuating commodity prices, which often correlate with the Aussie dollar. If commodities continue to strengthen, we might see further support for AUD. Conversely, any signs of weakness in the U.S. economy could also bolster the AUD/USD. Watch for any news releases this week that could impact these dynamics, particularly on Wednesday when U.S. CPI data is due.