Post #15796

AUD/USD Climbs as Risk Rebounds AUD/USD continues grinding higher with risk appetite returning. Price is pushing back toward the upper range, with the next key zone sitting near the 0.71 area. Momentum favors the upside for now, but extended equity or metals weakness could quickly stall the move. The Aussie is riding the rebound in global equities and precious metals, both key drivers for the currency. Last week’s RBA hike is still feeding yield support, and markets now price roughly a three-in-four chance of another increase in May, with further tightening expected later in the year. Domestic data was mixed — household spending softened, but volumes held up, backing the RBA’s view that demand hasn’t rolled over. Direction from here likely hinges on U.S. data and guidance from RBA officials this week. - Alan