The Australian dollar eased to around 0.6650 against the US dollar in early trading on Monday, retreating from near 0.6700 last week, its strongest level since early February. The pullback came as investors turned cautious before the Reserve Bank of Australia’s meeting minutes, due Tuesday. The minutes from the April 1 policy meeting are expected to offer further insight into the decision to keep the cash rate at 4.10% and into the timing of possible future cuts. Australia’s inflation rate stood at 3.4% as of April 2025, above the RBA’s 2-3% target band. Firmer commodity prices, a weaker US dollar and improved risk sentiment had supported the Australian dollar, while profit-taking and position squaring weighed before the release. Resistance is around 0.6700, with support at 0.6600 and the 50-day moving average near 0.6550. A break below the moving average could deepen the correction, while a move above 0.6700 could open a test of the February high near 0.6800. A hawkish set of minutes could support the currency, while a dovish surprise could accelerate its decline. The minutes may also influence expectations for borrowing costs, mortgage rates, economic growth and the appeal of Australian assets to foreign investors.