AUD/USD Price Forecast: Momentum builds as price holds above 0.6600

The Australian Dollar (AUD) continues to strengthen against the US Dollar (USD), particularly holding above the 0.6600 level. This movement follows insights from the Reserve Bank of Australia’s meeting minutes, where policymakers discussed the necessity of potential interest rate hikes if inflation persists. As confidence in the AUD grows, the upward momentum appears robust. Market focus will be on the ability to maintain above the 0.6600 threshold, with further gains anticipated if this support level holds. Key variables to watch include the directional outcomes of interest rate decisions, which may significantly affect the AUD. Any data reflecting higher-than-expected inflation could strengthen the AUD further. Thus, watching the 0.6600 support line will also be critical; a break above this level could signify continued bullish trends for AUD/USD. Overall, as long as the strength in AUD persists, investors may remain inclined towards an upward trajectory.