AUD/USD returned to 0.7600 after the RBA’s hawkish comments. As US stocks fall/recover after the Fed’s hawkish comments, the dollar has been higher of late. A bullish trend had been signaled when the RBA scrapped its “patience” recommendation, sending the pair higher. The AUD/USD forecast is strongly bullish after the hawkish RBA. However, the Fed’s aggression may keep the gain limited. –Are you interested in learning more about AI trading brokers? Check our detailed guide- The AUD/USD pair is still trading at significant gains following the RBA’s hawkish interest rate decision, but it has pulled back from multi-month highs of above 0.7650 earlier and is now trading closer to 0.7600. US bonds market A pullback in US stock markets and a rise in US bond yields followed comments from Fed Vice Chair Lael Brainard suggesting a rapid rundown of the balance sheet could begin as early as May. In addition to AUD/USD, other major crosses/US dollar were also impacted by the drop in sentiment. Get FREE Forex Signals Now! RBA’s hawkishness The AUD/USD could end the session up 1.0% after technicals indicate a sharp break north of the Q4 2021 highs around 0.7550 during the Asia Pacific trade. As a result of the RBA’s retraction of its “tolerance” on rate hikes, Aussie bulls have taken control, and the market expects the first 25 basis point rate hike in June. Hence, the bulls will mark their next upside targets once the AUD/USD pair makes new yearly highs. What’s next to watch the AUD/USD forecast? With the pair having recovered over 6.0% from the mid-March lows below 0.7200, it won’t be a surprise if another 3-5% challenge those highs in the coming months. Fundamentally, it seems plausible that commodities prices could rise due to the Russo-Ukrainian war, equity markets will remain resilient, and the RBA will at least catch up to the rest of the G10 central banks. –Are you interested in learning more about spread betting brokers? Check our detailed guide- AUD/USD price technical forecast: Bulls holding above 0.7600 The AUD/USD price broke out of the range and posted fresh yearly highs above the 0.7600 level. However, the pair has shed off its gains in the last hour. But the pair maintains the bullish bias and remains supported by the 0.7600 level. If the bears pick the pace, the pair may fall towards 0.7550 ahead of the 0.7500 handle. Alternatively, the upside trend may continue and test the 0.7700 handle ahead of 0.7800. The volume data shows that the bias is strongly bullish. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal AUD/USD Daily Outlooks share Read Next GBP/USD Price Stable Under 1.31 After Fall, Eying FOMC Meeting Saqib Iqbal 8 months AUD/USD returned to 0.7600 after the RBA's hawkish comments. As US stocks fall/recover after the Fed's hawkish comments, the dollar has been higher of late. A bullish trend had been signaled when the RBA scrapped its "patience" recommendation, sending the pair higher. The AUD/USD forecast is strongly bullish after the hawkish RBA. However, the Fed's aggression may keep the gain limited. -Are you interested in learning more about AI trading brokers? Check our detailed guide- The AUD/USD pair is still trading at significant gains following the RBA's hawkish interest rate decision, but it has pulled back from multi-month highs of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.