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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The AUD/USD pair slipped below the 0.7150 support level, driven primarily by a firmer US Dollar across global markets. According to reports, the Australian Dollar weakened despite hawkish commentary from the Reserve Bank of Australia (RBA) which typically provides a tailwind for the currency. The breach of this key technical level suggests a shift in near-term momentum despite the central bank's stance.
This decline coincides with US inflation data released on May 12, 2026, showing the annual CPI reached 3.8%, exceeding the 3.7% forecast and bolstering USD demand. Conversely, Australian domestic data per market data showed a 4.3% contraction in monthly home loans as of May 13, 2026, adding fundamental pressure to the AUD while the US 'Super Core' CPI rose to 3.39% annually.
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Sign InTraders are now monitoring price action around the levels held at the close of May 19, 2026, with 0.7150 potentially transitioning from support to resistance. With no high-impact Australian economic events listed in the calendar for the coming week, the pair's trajectory will likely depend on broader US Dollar sentiment and upcoming Federal Reserve official communications.