Snapshot: AUD/USD trades at 0.7256, up 0.22% on the session. The RBA’s reluctance to commit to a rate cut is supporting the Aussie, though attention is briefly diverted by a $4bn injection into Victoria’s Suburban Rail Loop. Focus shifts to the 08:30 ET US Unemployment Claims print.
- Watch 0.7264 intraday high; break opens a test of 0.7300.
- Squeeze risk is elevated. Net non-commercial positioning in AUD is crowded long at the 96th percentile; disappointment could trigger a sharp correction.
Bias into NY: Bullish on AUD/USD while DXY remains below 98.00 and the Aussie benefits from the relatively hawkish RBA stance. A break above 0.7264 targets 0.7300 resistance.