The increased downward pressure on the US Dollar (USD) spurred a notable recovery in AUD/USD on Wednesday, building on the previous session’s advance further north of 0.6500 the figure.
AUD/USD added to Tuesday’s gains above 0.6500. Extra gains look likely above the key 200-day SMA. Further weakness in the Dollar propped up the pair’s uptick. The increased downward pressure on the US Dollar spurred a notable recovery in AUD/USD on Wednesday, building on the previous session’s advance further north of 0.6500 the figure.
It's important to note that the RBA is one of the last G10 central banks anticipated to contemplate interest rate adjustments this year. Due to the differing timelines for monetary policy adjustments between the RBA and the Fed, the Australian dollar may gain momentum later in the year, potentially leading to further strengthening in AUD/USD. If the pair surpasses the December 2023 peak of 0.6871, it could target a significant level of 0.7000 in the short term.
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: Downside alleviated above the 200-day SMAThe continuation of the sell-off in the greenback lent legs to the broader risk-linked assets and propelled AUD/USD to the area of multi-session peaks well north of the 0.6500 hurdle on Wednesday.
Read more »
AUD/USD Forecast: Next on the upside comes 0.6670Renewed selling pressure on the US Dollar (USD) prompted AUD/USD to reverse part of the recent weakness and approach the mid-.0.6500s on Monday following two daily pullbacks in a row.
Read more »
AUD/USD Forecast: Extra upside appears on the cardsRenewed and robust buying pressure on the US Dollar (USD) spurred a reversal in AUD/USD on Thursday, prompting it to give away initial gains to multi-day peaks in the 0.6630-0.6635 band.
Read more »
AUD/USD Forecast: Next up-barrier comes at 0.6670The renewed and quite strong selling pressure on the US Dollar (USD) sponsored a sharp U-turn in AUD/USD on Wednesday, causing it to regain the area above the critical 200-day SMA (0.6556).
Read more »
AUD/USD Forecast: Some relief could emerge with the FedThe constant buying pressure on the US Dollar (USD) accelerated the decline of AUD/USD on Tuesday, pushing it below the key 200-day SMA (0.6557).
Read more »
AUD/USD Forecast: Some support might come from the RBAThe intense buying pressure in the US Dollar (USD) spurred AUD/USD to accelerate its downward movement, extending the break below the critical 0.6600 support level and flirting with the key 200-day SMA around 0.6560/50 band on Monday.
Read more »