Head Topics

AUD/USD Forecast: Further range bound appears on the cards

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

The Australian dollar resumed the upward trend following a negative start to the week, prompting AUD/USD to chart humble gains around the mid-0.

AUD/USD traded in an inconclusive note on Tuesday. Further losses could refocus on the 2024 low near 0.6450. Commodities and China keep the AUD under scrutiny. 6500s The slight uptick in AUD/USD occurred despite the equally marginal advance in the Greenback, as well as the continuation of the intense sell-off in iron ore prices, which reached multi-month lows near the $126.00 yardstick in response to increasing inventories and heightened uncertainty surrounding the Chinese housing market.

Regarding the Reserve Bank of Australia , the cautious approach from the central bank is likely to prevent significant downward pressure on the Australian dollar, as it is considered one of the latest G10 central banks to commence its interest rate cuts process. AUD/USD daily chart AUD/USD short-term technical outlook After clearing the weekly high of 0.6595 , AUD/USD may retest the temporary 55-day SMA around 0.6627, which coincides with the late-January peaks .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AUD/USD Forecast: Recovery gathers further paceThe Aussie dollar found another excuse to extend the weekly bounce in the continuation of the downward bias in the greenback on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/USD Forecast: Buyers willing to push it further upThe AUD/USD pair peaked on Tuesday at 0.6578, the highest in three weeks early in the American session.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/USD Forecast: Bulls may take their chances and push it towards 0.6600The Australian Dollar benefited from the better tone of equities at the beginning of the week, posting modest gains against its American rival.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/USD Forecast: Downside pressure mitigated above 0.6560The Australian dollar halted its upward trajectory, coming under selling pressure after retesting the 0.6570 zone against the US Dollar (USD) on Wednesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/USD Forecast: Some consolidation likely near termThe upward momentum of the Australian dollar paused as it faced selling pressure upon approaching the key 0.6600 hurdle vs.
Source: FXStreetNews - 🏆 14. / 72 Read more »

AUD/USD Forecast: Extra downside not ruled out near termThe Australian dollar came under renewed selling pressure amidst the solid performance in the Greenback on Thursday.
Source: FXStreetNews - 🏆 14. / 72 Read more »