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Moneta Markets

AUD Leads FX Rally as Bullish Momentum Builds Across Majors | 8th April, 2026

AUD Leads FX Rally

FX markets are shifting into a more constructive, risk-on tone, with the Australian Dollar leading gains across the board. Strength in AUD pairs reflects improving sentiment and bullish technical momentum, while the New Zealand Dollar remains supported following the RBNZ’s steady policy stance. Meanwhile, EUR/USD is also pushing higher, signaling broader USD softness in the near term.

AUD/USD Forecast

Current Price and Context

AUD/USD is advancing toward the multi-year high near 0.7190, supported by strong bullish momentum. The pair continues to benefit from improving risk appetite and sustained upside pressure.

Key Drivers

• Geopolitical Risks: Easing risk aversion supports pro-cyclical currencies like AUD.

• US Economic Data: Softer USD tone allows AUD to push higher.

• FOMC Outcome: Reduced hawkish pressure from the Fed supports upside in AUD/USD.

• Trade Policy: Stable conditions favor commodity-linked currencies.

• Monetary Policy: RBA outlook remains relatively supportive.

Technical Outlook

• Trend: Strong bullish

• Resistance: 0.7190 (multi-year high)

• Support: 0.7100 – 0.7050

• Forecast: Further upside likely with potential test of 0.7190.

Sentiment and Catalysts

• Market Sentiment: Bullish

• Catalysts: Risk sentiment, USD direction, commodity prices

AUD/JPY Forecast

Current Price and Context

AUD/JPY is gaining momentum and holding above its 100-day EMA, reinforcing a bullish outlook. The pair reflects strong demand for risk assets against a relatively weaker Yen.

Key Drivers

• Geopolitical Risks: Reduced safe-haven demand weighs on JPY.

• US Economic Data: Indirect influence via global risk sentiment.

• FOMC Outcome: Supports broader risk appetite.

• Trade Policy: Stable trade outlook benefits AUD.

• Monetary Policy: BoJ remains accommodative, pressuring JPY.

Technical Outlook

• Trend: Bullish

• Resistance: 96.50 – 97.50

• Support: 94.50 – 93.80

• Forecast: Continued upside while above 100-day EMA.

Sentiment and Catalysts

• Market Sentiment: Bullish

• Catalysts: Risk appetite, BoJ signals

AUD/NZD Forecast

Current Price and Context

AUD/NZD is edging lower toward the 1.2150 level following the RBNZ’s decision to keep rates unchanged. The Kiwi is showing resilience, narrowing the strength gap with AUD.

Key Drivers

• Geopolitical Risks: Limited direct impact.

• US Economic Data: Secondary influence.

• FOMC Outcome: Indirect impact via USD direction.

• Trade Policy: Stable conditions across both economies.

• Monetary Policy: RBNZ holding rates supports NZD relative to AUD.

Technical Outlook

• Trend: Mild bearish

• Resistance: 1.2200 – 1.2250

• Support: 1.2150 – 1.2100

• Forecast: Slight downside bias as NZD stabilizes.

Sentiment and Catalysts

• Market Sentiment: Neutral to slightly bearish

• Catalysts: RBNZ outlook, relative central bank expectations

EUR/USD Forecast

Current Price and Context

EUR/USD has climbed above the 1.1650 level, supported by a bullish technical reversal and improving momentum. The pair is benefiting from a softer USD backdrop.

Key Drivers

• Geopolitical Risks: Limited impact, with focus on monetary divergence.

• US Economic Data: Moderation in USD strength supports EUR.

• FOMC Outcome: Less aggressive Fed outlook weighs on USD.

• Trade Policy: No major developments.

• Monetary Policy: ECB stability supports the Euro.

Technical Outlook

• Trend: Bullish reversal

• Resistance: 1.1700 – 1.1750

• Support: 1.1600 – 1.1550

• Forecast: Further upside likely if momentum holds.

Sentiment and Catalysts

• Market Sentiment: Bullish

• Catalysts: USD weakness, ECB signals

NZD/USD Forecast

Current Price and Context

NZD/USD is holding gains near the 0.5800 level following the RBNZ’s decision to keep rates unchanged. The pair is supported by improved sentiment and policy stability.

Key Drivers

• Geopolitical Risks: Lower risk aversion supports NZD.

• US Economic Data: Softer USD tone benefits upside.

• FOMC Outcome: Reduced USD strength aids NZD/USD.

• Trade Policy: China-linked outlook remains important.

• Monetary Policy: RBNZ steady stance supports the Kiwi.

Technical Outlook

• Trend: Bullish

• Resistance: 0.5850 – 0.5900

• Support: 0.5750 – 0.5700

• Forecast: Further gains possible while above 0.5750.

Sentiment and Catalysts

• Market Sentiment: Bullish

• Catalysts: RBNZ outlook, risk sentiment, USD movement

Wrap-Up

Markets are showing a clear shift toward risk-on sentiment, with the Australian Dollar leading gains across FX pairs. Broad USD softness is allowing majors like EUR and NZD to push higher, while central bank decisions—particularly from the RBNZ—are shaping relative currency performance. If current momentum holds, bullish continuation across pro-cyclical currencies remains the dominant theme in the near term.

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