ING Netherlands: The Australian dollar may face a "sell the fact" pullback risk

Golden Ten Data reported on March 12 that Francesco Pesole from ING Bank stated in a report that the Australian dollar faces downside risks, as the market's pricing for another rate hike by the Reserve Bank of Australia next Tuesday is quite aggressive. Before the RBA announces its rate decision, if the stock market shows stronger resilience and oil prices remain high, AUD/USD may rise to 0.72. "Afterwards, we may see a 'sell the fact' pullback, as market positioning is already quite aggressive, and amid high uncertainty, the RBA may adopt cautious language regarding further tightening."