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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AUD/USD plunged on Friday as risk sentiment deteriorated, with traders eyeing key support at 0.63 amid tariff concerns and US economic strength.
AUD/USD broke key resistance on Thursday, gaining bullish momentum as easing US-China tariff concerns boost sentiment, with 0.65 as the next target.
The Australian Dollar faced resistance near 0.6350 on Wednesday, with downside risks persisting as US dollar strength and economic factors weigh on the currency.
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The Aussie dollar rallies after a gap lower but faces strong resistance near 0.63, with downside risks tied to China's weak economic performance.
The Australian dollar stabilizes within a consolidation range, with traders awaiting US jobs data to determine if AUD/USD breaks resistance or resumes its downtrend.
The AUD/USD rebounded after an early selloff, but resistance at 0.62 and trade tensions may limit gains, with volatility expected ahead of US jobs data.
AUD/USD spikes on tariff delay but remains vulnerable, with traders watching 0.63 resistance as economic concerns and Fed policy favor the U.S. dollar.
AUD/USD declines sharply, breaking below key resistance, with traders watching support at 0.62 and the upcoming Federal Reserve decision for further market direction.
The Australian dollar has rallied above 0.57, but strong resistance at 0.5850 and ongoing concerns about China's economy suggest caution for further upside.
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AUD/USD: Despite a bullish surge, long term the Aussie is looking bearish with its reliance on a struggling Chinese economy
In my daily analysis of major currency pairs, the AUD/USD is what I find very interesting, as we are hanging around the 0.62 level.
The Australian dollar finds temporary support above 0.62 but remains under pressure due to US dollar strength and China's economic challenges.
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Sign up to get the latest market updates and free signals directly to your inbox.During my daily analysis of the major currency pairs, the Australian dollar captures my attention due to the fact that we have formed yet another nasty looking candlestick at the end of the day.
AUD/USD breaks below 0.62, with U.S. dollar strength and Chinese economic concerns likely driving the pair toward the critical 0.60 level.
The Australian dollar struggles near 0.625, with limited upside and potential for a breakdown to 0.55 as bearish momentum persists.