The Australian Dollar (AUD) inches higher against the US Dollar (USD) on Monday.
The Australia n Dollar appreciates due to a slight increase in the odds of a 50 basis points Fed rate cut. The Aussie Dollar receives support from the RBA’s hawkish stance. The US Dollar faces challenges as the Treasury yields decline amid uncertainty over the scale of the Fed rate cut. The Australia n Dollar inches higher against the US Dollar on Monday.
On the downside, the AUD/USD pair could find immediate support around the nine-day Exponential Moving Average at the 0.6703 level. A break below this level could reinforce the bearish bias and lead the pair to navigate the region around the lower boundary of the descending channel around the throwback support zone near 0.6575. AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar against listed major currencies today.
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