The AUD/USD pair held steady on Tuesday, consolidating near the 0.6490 level after the release of the Reserve Bank of Australia's Meeting Minutes. The exchange rate showed little movement on the day as traders digested the central bank's cautious stance. The RBA reiterated its data-dependent approach, noting that it was not ruling any policy options in or out, which provided limited directional impetus for the Australian dollar.
The currency pair found some underlying support from cooling US labor market data, which softened the US Dollar broadly. This helped the AUD/USD find a floor, preventing a deeper retracement from recent highs. Key technical levels are now in focus, with immediate resistance seen near the 0.6520 handle. A break above this could signal a test of the 0.6550 region.
Market participants are now looking ahead to upcoming US economic indicators and commentary from Federal Reserve officials for fresh directional catalysts. The pair's near-term trajectory will likely depend on the broader market sentiment towards the USD and any shifts in the interest rate differential between the two economies. Trading remains range-bound as the market awaits a clearer fundamental catalyst.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-18 16:56
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.