Over the past 24 to 48 hours, the AUD/USD pair has maintained its established uptrend, closing yesterday at 0.71407. Australia’s February CPI data showed a slight cooling to 3.7%, yet still above the RBA’s target range, keeping investor confidence in the Aussie strong.

Concerns regarding Middle Eastern geopolitical tensions and energy supply risks continue to bolster safe-haven demand for the US dollar, while the looming CPI release and FOMC meeting have positioned the Australian dollar as a focal point for traders. AUD/USD has been oscillating between 0.6980 and 0.7155, with market consensus anticipating a breakout fueled by solid Australian economic indicators and improving risk sentiment.

Scotiabank highlighted the Australian dollar’s undervaluation, projecting a potential rise to at least 0.75, which contrasts with the current consolidation around 0.71. Investors can be likened to climbers poised to ascend, waiting for a breakout that could push prices significantly higher.

In summary, investors should closely watch the upcoming CPI figures and FOMC decisions as they will directly impact the AUD/USD direction. Geopolitical factors and global risk appetite remain crucial drivers of current market sentiment. Overall, the Australian dollar retains a bullish stance reflecting optimistic views on the country’s economy, even as global macroeconomic and political dynamics call for cautious monitoring.

Daily Chart

The daily chart reveals AUDUSD’s steady uptrend since early 2026, trading above both the 200-day and 50-day moving averages, signaling a strongly bullish longer-term momentum. The Bollinger Bands are narrowing, indicating reduced volatility, while the MACD remains above zero though momentum is tapering off. Technically, bulls remain dominant but face resistance near 0.7150, necessitating caution for potential pullbacks or successful breakouts.

1H Chart

On the hourly timeframe for the past 3-5 days, AUDUSD consolidates between 0.7100 and 0.7155. The 20- and 50-period moving averages have formed a bullish golden cross, supporting the short-term upward trend. The mid-Bollinger Band acts as strong support, and the MACD recently crossed upwards, signaling fresh momentum. Notably, a bullish engulfing candlestick has emerged, indicating a likely continuation of buying pressure toward 0.7180 or higher.

Technical Trend:  Cautiously Bullish

Technical signals suggest AUDUSD is in a critical consolidation zone with bullish momentum supported by a fresh MACD crossover and a golden cross on moving averages. The tightening Bollinger Bands suggest volatility expansion is imminent, favoring a potential break above 0.7150. Traders should watch volume and RSI confirmation for breakout validity. If the breakout fails, a retracement toward 0.7100 support remains a key risk to manage.

Today (GMT+1), no significant economic data or events directly affecting AUDUSD are scheduled. Traders should focus on technical indicators and market sentiment while awaiting upcoming Australian CPI and FOMC announcements that may trigger major moves.

Resistance & Support

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