The AUD/USD pair has rebounded strongly, driven by the Australian Dollar’s outperformance against other major currencies. The RBA’s hawkish stance on interest rates and expectations of Chinese economic stimulus have supported the Australian Dollar.

Key Factors Influencing AUD/USD:

• RBA Monetary Policy: The RBA’s decision to maintain interest rates and its hawkish guidance have strengthened the Australian Dollar.
• Chinese Economic Stimulus: Expectations of Chinese economic stimulus have also boosted the Australian Dollar.
• US Dollar: A potential correction in the US Dollar, ahead of the Fed’s rate decision, has further supported the AUD/USD pair.

Technical Analysis:

The AUD/USD pair has broken above a key resistance level and may continue to strengthen in the short term. However, it’s important to monitor the overall market sentiment and any potential shifts in economic indicators.