AUD/USD hovers near its fresh 2025 high as markets await the RBA rate decision

AUD/USD surged to a fresh 2025 high on Monday, marking its strongest level since mid-December, as the broader rally extended for a second consecutive week, gaining nearly 5% from a near four-year low.

The pair remains supported by a weaker US dollar, which has shifted the daily chart outlook to positive and generated an initial reversal signal.

Near-term action trades within the thick daily Ichimoku cloud, bolstered by a bullish Tenkan/Kijun-sen crossover, with key resistance at 0.6410/14 (daily cloud top / 38.2% Fibonacci retracement of the 0.6942–0.6087 downtrend).

A sustained break above this zone would reinforce the reversal signal, though overbought conditions and the upcoming RBA rate decision on Tuesday could introduce headwinds.

The Reserve Bank of Australia is widely expected to cut interest rates by 25 basis points, marking its first rate cut in over four years and signaling the start of an easing cycle.

Immediate support lies at 0.6330 (Jan 24 high), with the near-term bias remaining bullish as long as the price holds above the strong 0.6300/0.6290 support zone.

Res: 0.6414; 0.6441; 0.6500; 0.6515
Sup: 0.6330; 0.6290; 0.6235; 0.6194