AUDUSD: Bullish Momentum Builds as Price Holds Key Moving Averages

AUDUSD has demonstrated strong rebound momentum over the past three trading days, closing yesterday at 0.65449. The weakness in the US Dollar combined with persistent Australian inflation data has led markets to reassess the RBA’s rate easing expectations. Increased risk appetite and cautious positioning ahead of US data releases have provided robust support for the Aussie. This price action signals investor confidence and higher demand for risk assets. Key moving averages currently act as strong support levels, with the 50-day SMA at 0.65350 being critical for sustaining further upside momentum. Traders should closely monitor upcoming US and Australian economic indicators to adjust their strategies accordingly.