The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Friday.
The Australia n Dollar depreciates as traders adopt caution due to concerns over Donald Trump’s proposals to raise tariffs. The AUD/USD pair appreciated more than 1% on Thursday, as the Fed announced a 25 basis point rate cut. Fed Chair Jerome Powell emphasized that the central bank will continue to assess economic data to decide future rate changes. The Australia n Dollar edges lower against the US Dollar on Friday.
On the upside, the AUD/USD pair may explore the region around the psychological level of 0.6700. Regarding the support, the AUD/USD pair may test the 14-day EMA of 0.6630, aligned with the nine-day EMA of 0.6624. A break below the latter could lead the pair to navigate the area around its three-month low at 0.6512, followed by key psychological support at 0.6500.
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