An Oct. 20 high of $0.7018 against its U.S. counterpart put the Australian dollar above $0.7015, a resistance level FXStreet attributed to United Overseas Bank (UOB) senior technical strategist Quek Ser Leang.
Investing.com's daily AUD/USD table gives the high without a time stamp. It does not show how long the exchange rate remained above $0.7015.
FXStreet reported that Quek saw a test of $0.7000 as possible but doubted the currency would move decisively past it. His reported trading range for the following one to three weeks was $0.6915 to $0.7015. The $0.7018 high exceeded the top of that range during the session.
At a separate reference time of 1 a.m. ET (05:00 UTC) on Oct. 20, the Reserve Bank of Australia (RBA) recorded $0.6984 per Australian dollar. Its comparable Oct. 19 reading was $0.6975, as earlier coverage of the RBA rate reported. The reference rates and the daily high capture different observations.
The National Bureau of Statistics of China reported that year-over-year growth accelerated to 4.5% in the third quarter from 4.3% in the second. The preliminary figures also showed 1.2% growth from the previous quarter. A Reuters poll had forecast a 4.4% annual increase. The Australian dollar rose after the Chinese GDP release on Oct. 19.
Australian Bureau of Statistics data put 2025 exports of goods and services to China at A$195.6 billion, more than to any other destination. That trade connection makes Chinese growth relevant to the Australian economy, though the figures do not establish what caused the currency's Oct. 20 high. The RBA says a stronger Australian dollar makes Australian exports relatively more expensive overseas and imports relatively cheaper at home.
Australia's next consumer price index release is scheduled for Oct. 28. The RBA's next cash-rate update is due Nov. 3.
