Australian Dollar Forecast

GBPAUD drawdown fades, leaving scope for the rebound to extend.

The Pound's recent selloff against the Australian Dollar has eased over recent days but the exchange rate remains vulnerable to further losses, particularly if Tuesday's Reserve Bank of Australia (RBA) decision is more 'hawkish' than expected.

The Australian Dollar's rebound against the Euro and British Pound can be sustained over the coming months and a rally against the U.S. Dollar could even shape up, according to new research.

GBPAUD looks set to consolidate after the recent selloff left the pair at oversold levels, particularly if renewed fears concerning Chinese property stocks persist.

The Pound to Australian Dollar will unlikely attain the round figure of 2.0 and can fall over the remainder of 2023, according to a new analysis from Bank of America (BofA).

GBPAUD in a short-term downtrend, but look for support at 100-day MA.

Commodities, stocks and risk-sensitive currencies such as the Australian Dollar benefited at the start of a new week amidst a retreat in the Dollar and some positive data out of China.

GBPAUD extends recent pullback from highs as upside momentum wanes.

The Australian Dollar is one of the worst-performing of the major currencies over the course of the past month and year but a better performance awaits into year-end say some analysts, noting the Reserve Bank of Australia will hike interest rates again and that Chinese growth disappointments are peaking.

GBPAUD remains in a clear uptrend that could ultimately allow for further advances to fresh highs over the coming weeks, although near-term weakness is possible over the coming days of August.

GBPAUD uptrend remains alive despite recent pullback.

GBPAUD uptrend remains intact, further gains towards 2.0 possible if key level breaks.

This week, the Australian Dollar's main focus will be Tuesday's interest rate decision at the Reserve Bank of Australia (RBA), which could result in another test of three-year lows against the Pound, or another short-term comeback.

GBPAUD has stabilised and gone higher but significant risks seen this week.

The Australian Dollar rally risks stalling shows a new analysis from Commonwealth Bank of Australia that reveals much will now depend on the nature of a planned stimulus plan in China.

GBPAUD momentum continues to fade, meaning risks are to the downside short-term.

GBPAUD remains in a multi-week uptrend, however, near-term turbulence inspired by Australia's central bank can offer opportunities in either direction.

The Australian Dollar will this week remain at risk of further weakness in global commodity prices, however, a busy domestic calendar will also provide some potential volatility in the Pound to Australian Dollar exchange rate (GBP/AUD).

GBPAUD has bounced ahead of the weekend but a peaking of Bank of England rate hike expectations and a slowing economic data pulse could mean fresh 2023 highs are out of reach in the near term.

AUD will remain an underperformer in global FX, despite the gains it made following this week's surprise Reserve Bank of Australia (RBA) interest rates rise.