The USD weakened across the board last week due to a more dovish than expected FOMC decision where the Fed decided to signal a bigger QT taper beginning in June and the Fed Chair Powell pushed back repeatedly against rate hike expectations. Moreover, the data on Friday showed that the Fed might indeed just keep rates higher for longer as job and wage growth soften. The AUD has been gaining ground against many major currencies following the latest Australian Q1 CPI report where the data beat expectations by a big margin pushing rate cuts expectations further away to Q2 2025 and raising the chances of a rate hike. AUDUSD Technical Analysis - Daily TimeframeOn the daily chart, we can see tha
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