AUDUSD Technical & Fundamental Analysis: Bullish Consolidation Above 0.6600 Facing Key Resistance
Over the last three trading days, AUDUSD has shown steady upward momentum, closing yesterday at 0.66348 near a two-month high. The US dollar weakened ahead of key US Personal Consumption Expenditures (PCE) inflation data, boosting the Australian dollar. Strong domestic spending and rising inflation pressures in Australia have led markets to price in the chance of Reserve Bank of Australia rate hikes early next year, supporting AUD strength. This development reflects investor positioning amid evolving policy expectations and inflation forecasts. For the average investor, AUDUSD is maintaining positive momentum in the short term but should be cautiously watched for key resistance levels and the US economic data impact.
