Asia Session Forex Update: AUD/USD Tests Support Ahead of RBA Decision

Session brief Neutral bias Sep 29, 2026, 01:35 UTC

Daniel TanAsia-Pacific Market Analyst · ForexR analyst

The Asia session remains cautious as traders position for the RBA's interest rate decision. Gold and oil lead early gains while AUD/USD trades modestly lower toward key support.

Asia Session Performance

In the Asia session, major currency pairs are holding tight ranges while commodities and crypto assets see varied flow. Gold (XAU/USD) and WTI Crude Oil (XTI/USD) lead the market, up 0.34% and 0.26% on the day respectively. Conversely, Ethereum (ETH/USD) lags the board with a 0.94% decline, followed closely by a 0.74% drop in Bitcoin (BTC/USD).

AUD/USD and Regional Setups

Trading at 0.7008, AUD/USD sits below the pivot point of 0.70192. The H4 trend points down while the daily view is mixed. A push below the S1 support at 0.70000 would signal further downside momentum, whereas a recovery above the pivot could open the way toward R1 at 0.70347.

Gold (XAU/USD) is down 4.94% over the last five days, with both daily and H4 trends confirming a downward trajectory. Trading at 4128.92, price rests below the 4168.62 pivot. A break past R1 at 4226.46 would invalidate the immediate bearish structure, while a slide through the 4057.10 S1 level would extend the decline.

USD/JPY is drifting near 157.342, positioned just above its 157.224 pivot, displaying mixed trends on both daily and H4 timeframes. Action above the pivot keeps focus on R1 at 157.961, but a move back below would shift attention to S1 at 156.616.

Newsflow and High-Impact Calendar Updates

Newsflow themes currently center on a sharp gold sell-off, surging US bond yields, climbing oil prices, and positioning for the upcoming RBA rate decision, according to reports from FX Street, Forexcom, and FXEmpire. Providing context for broader dollar flows, the US 2-year Treasury yield closed on September 28 at 4.92%, up 11 basis points, and the 10-year yield ended at 5.24%.

Market focus now turns to today's Australian economic calendar, beginning at 04:30 UTC with the RBA Monetary Policy Statement, the Rate Statement, and the Interest Rate Decision, which carries an estimate of 4.6 against a previous 4.35. The RBA Press Conference follows at 05:30 UTC. Later today, traders will monitor the Harmonized Index of Consumer Prices from Spain at 07:00 UTC, a series of ECB speeches extending through 11:40 UTC, and Canadian Gross Domestic Product data at 12:30 UTC.