Australia GDP

AUD/USD is trading above the key 0.7200 level after stronger Australian growth data boosted expectations for a Reserve Bank of Australia rate hike this month. The pair now faces a major test from the August U.S. employment report, which could reshape Federal Reserve rate expectations and near-term direction.

AUD/USD has slipped for a second consecutive day, touching 0.7140 even after Australia reported stronger than expected second quarter growth. Market attention now turns to rising bond yields, geopolitical risk, oil prices and whether the pair can hold its ascending channel support.

AUD/USD has advanced steadily over the past three months, climbing from 0.6866 to around 0.7166 as technical momentum remains constructive. Australian GDP figures, US PMI releases and labor-market data now create a crucial near-term test for the pair.