AUD/USD Bounces Back Ahead of June Low to Register Fresh Yearly High
AUD/USD extends the rise from the start of the week to register a fresh yearly high (0.6601).
Share this:
US Dollar Outlook: AUD/USD
AUD/USD extends the rise from the start of the week to register a fresh yearly high (0.6601), and the exchange rate may attempt to test the November high (0.6688) as it carves a series of higher highs and lows.
AUD/USD Bounces Back Ahead of June Low to Register Fresh Yearly High
Keep in mind, AUD/USD bounced back ahead of the June low (0.6373) to stage a four-day rally, and the US Dollar may continue to depreciate against its Australian counterpart as US President Donald Trump states on Truth Social that ‘our rate should be three points lower than they are.’
Join David Song for the Weekly Fundamental Market Outlook webinar. David provides a market overview and takes questions in real-time. Register Here
Speculation for lower US interest rates may keep AUD/USD afloat as the Federal Reserve ‘projects that the appropriate level of the federal funds rate will be 3.9 percent at the end of this year,’ but the central bank may retain the current policy at its next rate decision on July 30 as Chairman Jerome Powell warns that ‘increases in tariffs this year are likely to push up prices and weigh on economic activity.’
With that said, the recent rally in AUD/USD may turn out to be temporary should the Fed continue to endorse a wait-and-see approach for monetary policy, but recent price action raises the scope for a further advance in the exchange rate as it carves a series of higher highs and lows.
AUD/USD Price Chart – Daily
Chart Prepared by David Song, Senior Strategist; AUD/USD on TradingView
- AUD/USD rebounds ahead of the June low (0.6373) to register a fresh yearly high (0.6601), with a breach above the November high (0.6688) opening up 0.6720 (78.6% Fibonacci retracement).
- Next area of interest comes in around 0.6820 (23.6% Fibonacci retracement), but AUD/USD may consolidate over the remainder of the week if it struggles to extend the recent series of higher highs and lows.
- Failure to hold above the 0.6510 (38.2% Fibonacci retracement) to 0.6550 (61.8% Fibonacci retracement) zone may push AUD/USD toward the monthly low (0.6455), with a move/close below 0.6430 (50% Fibonacci retracement) bringing the June low (0.6373) on the radar.
Additional Market Outlooks
British Pound Forecast: GBP/USD Stages Three Day Rally
Gold Price Rallies to Fresh Monthly High
Canadian Dollar Forecast: USD/CAD Reverses Ahead of June High
USD/CHF Struggles After Testing Former Support Zone
--- Written by David Song, Senior Strategist
Follow on X at @DavidJSong
Related tags:
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
Australian Dollar Forecast: AUD/USD Support Reversal Sparks Monthly Range Breakout 10 23 2026
A sharp reversal off key support has fueled the AUD/USD recovery, with resistance now in focus ahead of next week’s Fed decision and Australian CPI.
AUD/USD, NZD/USD Outlook: Corrective Recoveries Face Growing Headwinds
A weaker US dollar, falling Treasury yields and renewed demand for cyclical assets have supported the Aussie and Kiwi. But with some of those moves reversing on Monday, both currencies face an early test of whether their recent strength can continue.
AUD/USD Bulls Fight Back After Australian Jobs Shock
AUD/USD has been hit by another ugly Australian employment report, sending RBA rate hike expectations sharply lower. Yet the relationships driving the currency have shifted since quarter-end, and improving risk appetite could provide the fuel for a recovery.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.