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2025-09-16 09:38:45
AUD/USD surged higher in early Asian trading before stabilizing, with further upside potential. 1. In early Asian trading on Tuesday, AUD/USD continued its year-to-date gains, reaching a near ten-month high of 0.6675 before retreating slightly and consolidating, currently trading within a range. The exchange rate is gradually approaching the November 7 high of 0.66875, and technical indicators suggest further upward momentum. 2. Assistant Governor of the Reserve Bank of Australia, Hunt, recently stated that the current balance between employment and inflation is favorable, providing modest support to the Australian dollar. Furthermore, the market generally expects the Federal Reserve to announce a 25 basis point interest rate cut at its FOMC meeting on Wednesday, coupled with the overall weakness of the US dollar, also provided upward momentum for AUD/USD. Furthermore, the potential for intervention by the Trump administration in the Fed's monetary policy increases the possibility of a larger rate cut or an unexpected adjustment to forward guidance, keeping the market cautious. 3. Investors are closely watching Australia's August employment data, due on Thursday. A Reuters poll predicts an increase of 22,000 jobs and an unemployment rate of 4.2%. A better-than-expected reading could further boost the Australian dollar. 4. The lower support is at 0.6415 and 0.6373, while the upper resistance is at 0.66875 and 0.69435
