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RBA holds rates but signals a hawkish shift, boosting expectations for a potential February rate hike if inflation stays elevated.
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AUDUSD breaks to multi-month highs, clearing key resistance at 0.6648 as bullish momentum accelerates after Governor Bullock’s comments.
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Next major upside targets sit at 0.66817–0.6706, with hourly support at the 100-hour moving average guiding short-term trend control.
RBA Holds Rates but Signals a Hawkish Tilt
The Reserve Bank of Australia left rates unchanged, as expected, but Governor Bullock’s comments leaned noticeably toward the possibility of a future rate hike. With the next meeting not until February—after the RBA’s summer break—markets are increasingly pricing in the risk of tightening if inflation fails to cool.
AUDUSD Breaks Higher as Buyers Take Control
That shift in tone helped propel AUDUSD to fresh highs, breaking above the cluster of swing highs from Friday, Monday, and earlier today at 0.6648. The clean break above that ceiling opens the door for additional upside momentum as buyers gain confidence.
Key Technical Targets Ahead
On the daily chart above, the next target zone sits between 0.66817 and 0.6706, an area defined by multiple swing highs stretching back to October 2024. The top of that zone—0.6706—also marks the 2024 yearly high posted in September. A move toward that region would confirm strengthening bullish control and keep the broader topside narrative intact.
Technical Roadmap on the Hourly Chart
Drilling down to the hourly chart below, the key ceiling comes in at 0.66488. That ceiling was defined by swing highs from Friday, Monday, and earlier today A break back below this level with momentum would shift the focus toward the rising 100-hour moving average, currently at 0.66235 (blue line on the chart below). Earlier today, the price briefly dipped under that moving average as markets digested the RBA decision, creating a short-lived liquidity air pocket. But once the more hawkish tone from Governor Bullock became clear, buyers quickly stepped back in and pushed the pair higher.
For sellers to gain any meaningful control, they must drive the price back below the 100-hour moving average and hold it there
