Following AUD/USD Weekly Forecast: Pressure mounts in the near-term, but bulls still has an ace up the sleeveANALYSIS | 3/12/2021 3:43:24 PM GMT The Reserve Bank of Australia took action to curb the yields rally. The US Federal Reserve is having a monetary policy meeting this week. AUD/USD could fall towards 0.7620 but the long-term bullish picture persists. The AUD/USD pair is has managed to post a modest advance this week, recovering well above the 0.7700 threshold. The greenback strengthened on the back of soaring government bond yields, but in the case of AUD/USD, the stronger dollar was partially offset by Wall Street reaching all-time highs. The Dow Jones Industrial Average and the S&P both hit records on Thursday, after US President Joe Biden signed the $ 1.9 trillion stimulus bill into law, granting more easy money to markets.