The post AUD/USD rallies on strong GDP but holds below three-year highs appeared on BitcoinEthereumNews.com.

AUD/USD jumped one-half of one percent on Wednesday, rallying back to around 0.7080 after dipping toward the 0.7000 level earlier in the week. The pair has been consolidating in a roughly 150-pip range between 0.7000 and the year-to-date high near 0.7150 for over a month, and the Australian Dollar (AUD) remains down about 0.65% across the past five market sessions against the US Dollar (USD) despite Wednesday’s bounce. Australia’s fourth-quarter Gross Domestic Product (GDP) print of 0.8% beat expectations of 0.6%, with annual growth hitting a three-year high of 2.6%, driven largely by government spending and a rebound in inventories. The Reserve Bank of Australia (RBA) raised rates to 3.85% in February, and the stronger growth data is likely to keep the Board’s tightening bias in place. On the US Dollar side, the escalation of conflict in the Middle East following US and Israeli strikes on Iran and the effective closure of the Strait of Hormuz have driven safe-haven flows into the Greenback, though safety flight momentum has eased heading through the midweek market sessions. With no major Australian data left on this week’s calendar, focus shifts to US releases, with Nonfarm Payrolls (NFP), the Unemployment Rate, and January Retail Sales all due Friday. AUD/USD daily chart Technical Analysis In the daily chart, AUD/USD trades at 0.7079. The near-term bias is mildly bullish as price holds well above the rising 50-day and 200-day exponential moving averages, reinforcing an established uptrend despite the recent loss of momentum. The latest Stochastic reading retreats from overbought territory but remains in the upper band, indicating cooling upside pressure rather than a clear reversal, which aligns with a consolidation phase within a broader upward structure. Initial support emerges near 0.7040, where recent lows align with the short-term consolidation floor, followed by a deeper cushion around…

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Filed under: News - @ March 5, 2026 12:21 am

The post AUD/USD rallies on strong GDP but holds below three-year highs appeared on BitcoinEthereumNews.com.

AUD/USD jumped one-half of one percent on Wednesday, rallying back to around 0.7080 after dipping toward the 0.7000 level earlier in the week. The pair has been consolidating in a roughly 150-pip range between 0.7000 and the year-to-date high near 0.7150 for over a month, and the Australian Dollar (AUD) remains down about 0.65% across the past five market sessions against the US Dollar (USD) despite Wednesday’s bounce. Australia’s fourth-quarter Gross Domestic Product (GDP) print of 0.8% beat expectations of 0.6%, with annual growth hitting a three-year high of 2.6%, driven largely by government spending and a rebound in inventories. The Reserve Bank of Australia (RBA) raised rates to 3.85% in February, and the stronger growth data is likely to keep the Board’s tightening bias in place. On the US Dollar side, the escalation of conflict in the Middle East following US and Israeli strikes on Iran and the effective closure of the Strait of Hormuz have driven safe-haven flows into the Greenback, though safety flight momentum has eased heading through the midweek market sessions. With no major Australian data left on this week’s calendar, focus shifts to US releases, with Nonfarm Payrolls (NFP), the Unemployment Rate, and January Retail Sales all due Friday. AUD/USD daily chart Technical Analysis In the daily chart, AUD/USD trades at 0.7079. The near-term bias is mildly bullish as price holds well above the rising 50-day and 200-day exponential moving averages, reinforcing an established uptrend despite the recent loss of momentum. The latest Stochastic reading retreats from overbought territory but remains in the upper band, indicating cooling upside pressure rather than a clear reversal, which aligns with a consolidation phase within a broader upward structure. Initial support emerges near 0.7040, where recent lows align with the short-term consolidation floor, followed by a deeper cushion around…

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Filed under: News - @ 12:21 am