# AUD/USD Forecast: Bulls cautious above 0.7000 amid dovish RBA

> The Australian dollar held above 0.7000 for a second day as a Democratic sweep in US midterm elections and falling US bond yields weakened the US dollar to a fresh low since late September. The Reserve Bank of Australia's latest hike was described as dovish, with its statement dropping explicit references to future hikes.

- Date: 2026-11-05 · published 2026-11-05T06:08:58.571Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/81172-aud-usd-forecast-bulls-cautious-above-0-7000-amid-dovish-rba
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar supports AUD-priced demand for commodities, but the RBA's softer guidance limits Aussie gains and points to a possible pause, which trims yield support for the currency.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2025-11-25 | [EUR/USD Forecast: Advances as US data, dovish Fed signal rate cut](https://feedsoft.ai/events/22154-eur-usd-forecast-advances-as-us-data-dovish-fed-signal-rate-cut.md) | -0.6% | -1.8% |
| DXY | 2017-07-27 | [US Dollar Falls Amid Dovish FOMC, VIX At All-Time Low - ActionForex](https://feedsoft.ai/events/70154-us-dollar-falls-amid-dovish-fomc-vix-at-all-time-low-actionforex.md) | -0.6% | -0.5% |
| DXY | 2026-07-31 | [Australian Dollar gathers strength above 0.7000 amid softer US GDP data](https://feedsoft.ai/events/18595-australian-dollar-gathers-strength-above-0-7000-amid-softer-us-gdp-data.md) | -0.1% | -1.1% |
| DXY | 2020-08-30 | [Pound To Dollar Rate Forecast: Could A Dovish BoE Weigh On GBP/USD Rates This Week? \| Exchange Rates UK](https://feedsoft.ai/events/51866-pound-to-dollar-rate-forecast-could-a-dovish-boe-weigh-on-gbp-usd-rates-this.md) | +0.1% | +1.4% |
| DXY | 2026-07-31 | [AUD/USD, NZD/USD Forecast: US Dollar Vulnerable as Intervention Risks Linger \| Investing.com](https://feedsoft.ai/events/18594-aud-usd-nzd-usd-forecast-us-dollar-vulnerable-as-intervention-risks-linger.md) | -0.1% | -1.1% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/aud-usd-price-forecast-bulls-seem-hesitant-above-07000-as-dovish-rba-meets-usd-weakness-202611050459

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.