AUDUSD Breaks Key Resistance as Australian Dollar Gains Momentum – Trading Outlook and Technical Patterns, May 29, 2026
Over the past three trading days, AUDUSD has shown a robust rebound, closing yesterday at 0.71632, slightly above the day’s open of 0.7141. Market sentiment has been buoyed by hopeful developments in Middle East peace talks despite softer Australian jobs data. The Reserve Bank of Australia’s hawkish tone continues to underpin the Australian dollar, supporting an upward trend. Technically, the pair remains above critical moving averages, indicating sustained bullish momentum. Traders should watch upcoming Australian private sector credit data and US economic releases for potential catalysts that could steer the currency pair’s next moves.

