The Australian dollar's recent surge brings attention to the resistance level just above, at 0.69. Historically, this level has posed challenges following previous upward movements. AUDUSD $AUDUSD
The Australian dollar's recent surge brings attention to the resistance level just above, at 0.69. Historically, this level has posed challenges following previous upward movements. A successful breach of this level could potentially pave the way for further gains toward the 0.70 mark. However, given the current overextension of the market, a temporary pullback may be in the cards.
The key question is whether traders can be convinced that the Federal Reserve will maintain its "higher for longer" approach. Additionally, the Reserve Bank of Australia's relatively aggressive stance further influences the market dynamics.Recent candlestick patterns have demonstrated impulsive behavior, suggesting the presence of momentum. However, a short-term pullback might be necessary to consolidate the gains.
In this move, I would expect a serious attempt to break above the 0.70 level, which would be the key for a sustainable rally going forward. The Australian dollar's rally against the US dollar signifies the ongoing weakness of the latter. This development follows lighter-than-expected CPI numbers, raising concerns about slowing. Traders worldwide are closely monitoring central bank policies, particularly the Federal Reserve's potential slowdown. The Australian dollar's volatility stems from its sensitivity to global growth and commodity markets.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
AUD/USD closes Thursday above 0.6850 amid USD weaknessOn Thursday, the AUD/USD tallied a fifth consecutive day of gains and closed near the 0.6890 zone. The broad USD weakness amid dovish bets on the Fed
Weiterlesen »
AUD/USD Price Analysis: Consolidates near multi-week high, bulls await move beyond 0.6900AUD/USD Price Analysis: Consolidates near multi-week high, bulls await move beyond 0.6900 – by hareshmenghani AUDUSD Fed China Technical Analysis Currencies
Weiterlesen »
AUD/JPY trades with modest losses amid speculations that BoJ will tweak YCC in JulyThe AUD/JPY cross comes under some selling pressure during the Asian session on Friday and stalls its recovery from the monthly low, around the 93.25-
Weiterlesen »
As flood-ravaged Vermont cleans up, more heavy rain is forecastAs Vermont and New York’s Hudson Valley attempt to dry off and pick up the pieces from the disastrous flood event Sunday and Monday, forecasters are warily watching the potential for more heavy rain between Thursday and the weekend.
Weiterlesen »
Gold Price Forecast: XAU/USD holds gains following Fed’s Beige BookOn Wednesday, the Gold spot XAU/USD gained more than 1% and jumped to a daily high of $1,958. In that sense, the yellow metal gained ground following
Weiterlesen »
D.C.-area forecast: Toasty through the weekend with late day storm chancesToday is probably the week's hottest day.
Weiterlesen »