The Aussie dollar continues to be strong in general, despite the fact that the US dollar has taken the driver’s seat in general as far as the foreign exchange markets are concerned.
Technical Analysis
AUD/USD refers to the Australian Dollar/ US Dollar major currency pair. AUD/USD is one of the most actively traded currency pairs in Forex, with exceptional liquidity and high trading volume....
However, the Australian Dollar, or “Aussie”, as it is nicknamed in the Forex community, is not one of the six foreign currencies in the US Dollar Index, used to establish the value of USD dollar. Much of the popularity of the AUD/USD currency pair is due to the fact that the Australia is rich in natural resources like coal, iron ore, meat and wool. As a result, the AUD/USD is strongly influenced by commodity price shifts. A major trading partner and purchaser of Australian commodities is China, so the Chinese economic climate will have a substantial impact on the currency price. The price of both the Australian Dollar and the US Dollar, can be influenced by the interest differential between the Reserve Bank of Australia and the US Federal Reserve, as changing rates can weaken or strengthen a currency. So, for example, a weaker USD would give AUD/USD a boost. It is also worth noting that AUD/USD, which is quoted in USD, has a negative correlation with USD/JPY, USD/CHF, and USD/CAD.
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The Australian dollar pulled back sharply from 0.71 on Thursday, with 0.69 now a key support level amid central bank divergence and shifting risk sentiment.
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The Australian dollar continues to rocket to the upside as it looks like we are heading toward the 0.69 level, given enough time, as the Chinese economy and the RBA support it.
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AUD/USD continues to hover around 0.67 as traders eye RBA rate hike prospects and Chinese economic signals, with a breakout potentially targeting 0.69.
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The Australian dollar continues to consolidate despite weaker US job data, with strong support near 0.6650 suggesting ongoing buy-the-dip potential.
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The Australian dollar remains near multi-month highs despite Thursday’s dip, supported by China’s recovery and expected RBA tightening as markets eye NFP.
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Monday has been very noisy for the Australian dollar with Asian and European traders running for safety, and Americans reversing the move.
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AUD/USD moved higher on Monday, but the 0.67 level remains a key ceiling as low holiday liquidity favors consolidation over a breakout.
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AUD/USD pulls back from range resistance as global risk sentiment dominates, keeping the pair neutral while volatility and key levels guide direction.
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AUD/USD continues to stall beneath key resistance at 0.67, with global trade uncertainty keeping downside risks elevated toward the 0.6550 area.
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The Australian dollar climbed against the US dollar, but key resistance near 0.66–0.67 and an upcoming Fed decision suggest limited upside amid continued range-bound trading.
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The Australian dollar slid sharply on Wednesday, remaining trapped in its broader range. Key support at 0.64 continues to define the market, with global trade uncertainty and U.S. dollar strength keeping AUD sentiment subdued and choppy.
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The Australian dollar dropped on Tuesday, testing the 200-day EMA amid broad U.S. dollar strength, with key support at 0.64 and resistance near 0.6650.
Technical Analysis
The Australian dollar rallied a bit in the early hours of Tuesday, breaking above the previous rectangle to show signs of continuation to the upside. However, the market has been very noisy, and the Australian dollar has been a bit strange to say the least, as it hasn’t gained on the US dollar as strongly as many others had recently. This market has been one that has been a bit lackluster, even when the US dollar was being crushed by the Euro, Pound, etc.
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The Australian Dollar rebounded from key 0.6550 support, with momentum building toward 0.6650, though downside risks remain if support breaks.
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