0029 GMT - The Australian dollar is testing resistance near US$0.7200 ahead of the domestic CPI data and the Federal Reserve decision, StoneX's Matt Simpson says in commentary. A slightly hotter CPI reading would effectively confirm a rate increase by the Reserve Bank of Australia in May, which appears highly likely, and could boost the Aussie dollar versus the USD within an already bullish trend, the senior market analyst says. "The rally from the March low has been strong into cycle highs, with momentum building within an already established uptrend from the April 2025 low, favoring a potential break above 0.7200," Simpson says. Also, a "less-hawkish Fed hold would likely pave the way for a sustained break above 0.7200," the analyst adds. The Australian dollar is 0.1% higher at US$0.7185, LSEG data show. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

April 28, 2026 20:29 ET (00:29 GMT)

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