AUD/USD Price Forecast: Rallies to June 2022 high, closer to mid-0.7200s on weaker USD

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The AUD/USD pair is seen building on the previous day's bounce from the 0.7135 region, or the weekly low, and gaining strong follow-through positive traction for the second straight day on Wednesday.

AUD/USD attracts strong follow-through buyers amid a combination of supporting factors.
US-Iran peace deal hopes and receding hawkish Fed expectations weigh heavily on the USD.
The RBA’s hawkish outlook benefits the Aussie and contributes to the positive momentum.

The AUD/USD pair is seen building on the previous day's bounce from the 0.7135 region, or the weekly low, and gaining strong follow-through positive traction for the second straight day on Wednesday. The momentum lifts spot prices to a fresh high since June 2022, closer to mid-0.7200s, during the Asian session, and is sponsored by a broadly weaker US Dollar (USD).

The incoming headlines fuel optimism over a potential US-Iran peace deal and boost investors' confidence, undermining the safe-haven buck and benefiting the risk-sensitive Aussie. Furthermore, sliding Crude Oil prices ease inflationary concerns and temper bets for a rate hike by the US Federal Reserve (Fed). This exerts additional pressure on the USD, which, along with the Reserve Bank of Australia's (RBA) hawkish outlook, contributes to the bid tone surrounding the AUD/USD pair.

From a technical perspective, spot prices hold a bullish near-term bias following the recent resilience below the 100-period Exponential Moving Average (EMA) on the 4-hour chart. The said support is pegged at 0.7145, which now underpins the broader upturn from recent lows. Moreover, a firm Relative Strength Index (RSI) around 65 suggests strong but maturing upside momentum, while the positive Moving Average Convergence Divergence (MACD) reading hints that buyers still retain control.

This, in turn, suggests that any corrective pullback might still be seen as a buying opportunity near the 100-period EMA on H4, at 0.7145, as the broader structure remains constructive above this zone. A sustained break beneath this moving average would weaken the current bullish tone and open the door to a deeper corrective phase on the four-hour timeframe.

(The technical analysis of this story was written with the help of an AI tool.)

AUD/USD 4-hour chart

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.20%	-0.18%	-0.06%	-0.14%	-0.69%	-0.75%	-0.20%
EUR	0.20%		0.02%	0.15%	0.07%	-0.48%	-0.57%	0.00%
GBP	0.18%	-0.02%		0.13%	0.06%	-0.50%	-0.57%	0.00%
JPY	0.06%	-0.15%	-0.13%		-0.09%	-0.64%	-0.72%	-0.12%
CAD	0.14%	-0.07%	-0.06%	0.09%		-0.55%	-0.62%	-0.04%
AUD	0.69%	0.48%	0.50%	0.64%	0.55%		-0.07%	0.50%
NZD	0.75%	0.57%	0.57%	0.72%	0.62%	0.07%		0.57%
CHF	0.20%	-0.00%	-0.00%	0.12%	0.04%	-0.50%	-0.57%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).