AUD/USD — Bullish Short/Medium-Term OutlookAUD/USDOANDA:AUDUSDLeox_MarketsI maintain a bullish AUD/USD bias in the short/medium term. The RBA remains relatively hawkish, with inflation still above target and policymakers discussing the possibility of further tightening. China's renewed fiscal and infrastructure support could also improve commodity demand and provide additional support for the Australian dollar. AUD has maintained strong momentum despite weaker Australian employment data. The main contradiction comes from COT positioning: non-commercial traders currently hold roughly 44K net-short AUD contracts, with shorts increasing faster than longs in the latest report. Therefore, COT remains bearish, although continued AUD strength despite heavy speculative shorts creates potential for short covering if fundamentals remain supportive. Key catalysts this week are Australian CPI, U.S. PCE inflation and the Fed's Jackson Hole message.