The AUD/USD pair has rebounded from Wednesday’s low, with the Australian Dollar (AUD) gaining strength. The Reserve Bank of Australia (RBA) maintained its interest rate at 4.35%, indicating a pause in the tightening cycle.
US Dollar
The US Dollar (USD) is trading near 101.00, with a mixed outlook. Investors are awaiting the release of US Personal Consumption Expenditure (PCE) Price Index data for August, which could provide clues about the Fed’s future monetary policy decisions.
Economic Data
The RBA’s decision to maintain interest rates was influenced by the ongoing strength in the Australian economy. The US PCE data will be closely watched for signs of inflationary pressures.
Technical Analysis
The AUD/USD pair has rebounded from a key support level, indicating a potential short-term uptrend. However, the pair faces resistance near 1.0100.