The AUD/USD pair peaked on Tuesday at 0.6578, the highest in three weeks early in the American session.
AUD/USD Current Price: 0.6552 The Reserve Bank of Australia Meeting Minutes left the door open for additional rate hikes. Speculation mounts the Federal Reserve will maintain rates higher for longer. AUD/USD advanced for a fifth consecutive day, faces critical resistance at 0.6610. The pair retreated afterwards towards the 0.6550 region, where it stands ahead of the Asian opening, posting gains for the fifth consecutive day.
Market players now believe the central bank has more chances to take action in the June meeting rather than in the May one. By the end of the day, speculative interest took some profits out of the table, providing near-term support to the USD that anyway seems poised to extend its slump- AUD/USD short-term technical outlook From a technical point of view, the daily chart for the AUD/USD pair supports additional gains, particularly if the pair holds above 0.6542, the 23.
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