FxWirePro: AUD/USD edges lower, but bullish outlook persists

AUD/USD eased slightly on Thursday as concerns over the escalating Middle East conflict. The U.S. intensified pressure on Iran by launching new strikes on coastal military facilities and restoring a naval...

• AUD/USD eased slightly on Thursday as concerns over the escalating Middle East conflict. • The U.S. intensified pressure on Iran by launching new strikes on coastal military facilities and restoring a naval blockade.. •

Rising geopolitical tensions pushed oil prices higher, fueling renewed inflation concerns. • Meanwhile, inflation expectations moderated for the third month in a row, easing to 4.7% in July 2026 from 5.5% in June, their lowest level in six months..

•Markets currently price only a 20% chance of a rate hike in August and around 60% odds by December. • Markets are looking to upcoming employment and inflation reports for further guidance on the policy outlook..

• Immediate resistance is located at 0.7020(Higher BB), any close above will push the pair towards 0.7046(50%fib). • Support is seen at 0.6955 (61.8%fib) and break below could take the pair towards 0.6937(61.8%fib).

Recommendation: Good to buy around 0.6970 with stop loss of 0.6830 and target price of 0.7050