The Reserve Bank of Australia (RBA) left its policy rate unchanged, with the central bank's messaging remaining firmly anchored in a hold-or-hike posture. Rate cuts are not under active consideration, and officials have signaled that the next move could still be upward should inflation and cost pressures fail to moderate. This stance stands in contrast to several other major central banks—including the European Central Bank and the Bank of Canada—that have already begun easing, widening the policy divergence narrative that often influences currency flows. The relatively hawkish tone provided support for the Australian dollar against the US dollar on the session.

The market's initial reaction to the RBA decision was subdued, and AUD/USD actually slipped following the announcement. The pair dropped below both its 100-day and 100-hour moving averages in the vicinity of 0.7052, touching a session low of 0.7041 before selling pressure faded.

Buyers subsequently reasserted control, driving the pair back above both the 100-hour and 100-day moving averages. This recovery propelled AUD/USD to a new session high of 0.7068 and reaffirmed the 100-day moving average as a critical support level. Holding above this average keeps buyers in a commanding technical position.

The rebound refocuses attention on a significant upside target: the 50% retracement level of the decline from the May 5 high to the late-June low, situated at 0.70707. This midpoint is derived from Fibonacci retracement analysis, a widely used technical framework that identifies potential support and resistance zones based on proportional price relationships.

Notably, the price briefly exceeded this midpoint on both Friday and the prior session, only to reverse lower on each occasion. Consequently, a sustained break above 0.70707 would represent a meaningful technical development and could act as a catalyst for further upside.

Just above that retracement sits Friday's high at 0.7077. A decisive break above both 0.70707 and 0.7077 would open the path toward the next swing zone between 0.7100 and 0.7113. Beyond that range, the 61.8% retracement of the broader decline from the May high comes in at 0.7119.

On the downside, buyers retain the advantage as long as the price holds above the 100-day moving average. A fall below that average would shift momentum toward sellers, while a break beneath the rising 200-hour moving average at 0.7036 would provide further downside confirmation.

In summary, buyers hold the upper hand in the wake of the post-RBA rebound. A sustained push above the 50% midpoint at 0.70707 and Friday's high at 0.7077 would likely draw attention to the 0.7100–0.7119 band. Conversely, a slide back below the 100-day moving average would weaken the bullish technical bias.