Chart alert: AUD/USD bullish reversal at 20-day moving average, enroute to 0.7210
AUD/USD is showing signs of a bullish reversal at its 20-day moving average as the RBA is likely to maintain hawkish stance. Sticky core inflation at 3.4% and widening Australia–US rate spreads have strengthened expectations of another rate hike in May. A break above 0.7110 could open upside toward 0.7210, while 0.7020 remains key support for the near-term bullish bias.