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AUD/USD stayed under pressure after the Reserve Bank of Australia raised its benchmark rate to 4.60%. Traders are watching Australian inflation and key United States labor data as technical signals keep the downside in focus.

AUD/USD has fallen for three consecutive weeks, touching 0.7023 as markets prepare for the Reserve Bank of Australia’s interest rate decision. Technical traders are watching 0.7000 as a key support level, with 0.6900 in focus if bearish momentum persists.

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.

The U.S. dollar lost ground as traders reacted to softer U.S. labor market data and weaker factory orders. EUR/USD and GBP/USD gained traction, while USD/JPY tested a key resistance zone as markets assessed the risk of further yen intervention.