RBA is ready to accelerate or temporarily halt rate hikes as required. The RBA raised its cash rate by 25bps to a nine-year high of 2.85%. Markets are awaiting the Fed’s interest decision. Today’s AUD/USD price analysis is slightly bullish as the RBA invites the possibility of getting back to bigger rate hikes. The governor of Australia’s central bank stated Tuesday that additional rate hikes were likely required to control inflation. The bank was prepared to accelerate rate increases or temporarily halt them as needed. -Are you looking for automated trading? Check our detailed guide- On Tuesday, the central bank increased its cash rate by 25 basis points to a nine-year high of 2.85%. After four hefty increases of half a point, it moved to a 25 basis point increase in October. Lowe emphasized that there were reasons to be cautious about rate increases, including the Russian-Ukrainian conflict, rising living expenses, and a more deteriorated global economy. As a result, the RBA must tread carefully to avoid sending the economy into a recession while still containing inflation. Although the board was not following a predetermined course, he indicated that further interest rate rises would likely be required, with inflation predicted to peak at roughly 8% this quarter. “If we need to step up to larger increases again to secure the return of inflation to target, we will do that,” said Lowe. “Similarly, if the situation requires us to hold steady for a while, we will do that.” AUD/USD key events today There will be a lot of volatility when the Fed interest rate decision is made later today. Markets are expecting a 75bps increase. There will also be the ADP nonfarm employment change. Finally, investors will pay attention to the FOMC press conference for clues on future rate hikes. Get FREE Forex Signals Now! AUD/USD technical price analysis: RSI showing bullish strength amid consolidation Looking at the 4-hour chart, we see the price trading slightly below the 30-SMA and RSI above 50. The price is chopping through the SMA, a sign that it is consolidating. There is indecision in the market. However, the RSI trades above 50, showing bulls have more momentum. -If you are interested in forex day trading then have a read of our guide to getting started- If bulls remain strong, the price will likely break above the 30-SMA and retest resistance at 0.6500. However, if bears take over at the SMA, the price will look to take out support at 0.6390 and start making lower lows. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% 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 USD/JPY Forecast: BoJ Looking to Intervene, Traders Await FOMC Saqib Iqbal 1 month RBA is ready to accelerate or temporarily halt rate hikes as required. The RBA raised its cash rate by 25bps to a nine-year high of 2.85%. Markets are awaiting the Fed's interest decision. Today's AUD/USD price analysis is slightly bullish as the RBA invites the possibility of getting back to bigger rate hikes. The governor of Australia's central bank stated Tuesday that additional rate hikes were likely required to control inflation. The bank was prepared to accelerate rate increases or temporarily halt them as needed. -Are you looking for automated trading? Check our detailed guide- On Tuesday, the central bank… 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.