AUD/USD added to Wednesday’s uptick north of 0.6500. The late loss of momentum in the Dollar helped the pair’s upside. Markets’ attention now shifts to the US NFP. Thursday saw another negative session of the US Dollar , prompting AUD/USD to build on Wednesday’s gains and extend the trespass of the 0.6500 barrier along with the key 200-day SMA .
Given the Fed's commitment to tightening monetary policies and the likelihood of the RBA starting an easing cycle later this year, sustained gains in AUD/USD are currently perceived as limited. Additionally, recent economic data from China has not provided clear indications of a robust recovery, which is essential for bolstering a significant rebound in the Australian dollar.
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AUD/USD Forecast: Further gains appear likely near termThe slight downward pressure on the US Dollar (USD) seems to have been enough to spark a marked rebound in the Aussie dollar, lifting AUD/USD back to the 0.6600 barrier at the beginning of a new trading week.
Source: FXStreetNews - 🏆 14. / 72 Read more »
AUD/USD Forecast: Further gains appear likely near termMonday witnessed renewed selling pressure on the US Dollar (USD), prompting AUD/USD to maintain its upward momentum for the second week in a row and briefly poke with the provisional 100-day SMA in the 0.6580-0.6585 band, or three-week tops.
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AUD/USD Forecast: Further up comes the 200-day SMAOn Tuesday, further selling pressure on the US Dollar (USD) sparked another notable rebound in AUD/USD to the proximity of the 0.6500 hurdle, adding to Monday’s optimism and reaching new multi-day peaks.
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AUD/USD Forecast: Extra gains appear in the pipelineAnother irresolute session in the US Dollar (USD) helped to sustain the robust recovery in AUD/USD, prompting the pair to extend further its recent breakout of the 0.6600 yardstick and advance to the vicinity of 0.6650.
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AUD/USD Forecast: Near-term outlook appears deterioratedThe strong resumption of the bid bias in the US Dollar (USD) prompted an equally marked retracement in the Aussie dollar and the rest of its risk-related peers, pushing AUD/USD to multi-session lows near 0.6500 on Wednesday.
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AUD/USD Forecast: Extra weakness should not be ruled out near termThe continuation of the upward bias in the US Dollar (USD) did not prevent its Australian counterpart from regaining some balance and encouraged the AUD/USD to print decent gains beyond 0.6500 on Thursday.
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