We are trying to break above the 0.6550 level, which is an area that has been rather resistant.
Technical Analysis
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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The Australian dollar simply doesn’t seem to be willing to hang on to gains for a significant amount of time.
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The Australian dollar has gone back and forth during the trading session on Friday.
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It's easy to see that this currency is struggling a bit.
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In my daily analysis of the Australian dollar, it's easy to see that we had initially pulled back but have found a significant amount of support near the 0.6575 level.
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The Aussie dollar was all over the place during the early hours on Wednesday as we continue to see a lot of volatility.
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It's easy to see that the Aussie dollar has been very strong.
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In my daily analysis of the Australian dollar, it's easy to see that there is a lot of positivity to this currency market right now.
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It’s hard not to notice that the Australian dollar has been struggling over the last couple of days.
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The Aussie dollar did pull back just a bit during the course of the trading session on Friday, only to turn around and break higher.
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I can see that the AUD/USD pair is trying to break out to the upside but has a lot to work through.
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The Australian dollar initially fell during trading on Friday but turned around to show signs of hesitation.
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The Aussie dollar initially pulled back just a bit during the early hours on Tuesday, but then turned around to rally.
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The Aussie dollar bounced a bit during the trading session on Monday, using the 200-Day EMA to show signs of support.
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The Australian dollar has crumbled during the trading session on Friday, as we have seen the US dollar take off to the upside.
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