On Tuesday, further selling pressure on the US Dollar (USD) sparked another notable rebound in AUD/USD to the proximity of the 0.6500 hurdle, adding to Monday’s optimism and reaching new multi-day peaks.
AUD/USD advanced further and approached 0.6500. The Dollar’s sell-off lent support to the risk complex. Australia n inflation figures come next on the docket. On Tuesday, further selling pressure on the US Dollar sparked another notable rebound in AUD/USD to the proximity of the 0.6500 hurdle, adding to Monday’s optimism and reaching new multi-day peaks.
Both the RBA and the Fed are among the final G10 central banks expected to consider interest rate adjustments this year. With the Fed maintaining a firm stance on tightening monetary policies and the potential for the RBA to initiate an easing cycle later in the year, AUD/USD is likely to face sustained downward pressure in the short and medium terms.
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AUD/USD Forecast: Renewed bullish sentiment above the 200-day SMAThe 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.
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AUD/USD Forecast: Further gains appear likely near termThe slight downward pressure on the US Dollar (USD) seems to have been enough to spark a marked rebound in the Aussie dollar, lifting AUD/USD back to the 0.6600 barrier at the beginning of a new trading week.
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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.
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AUD/USD Forecast: Corrective upside could be only temporaryThe selling pressure in the Australian Dollar (AUD) lost traction on Monday and sponsored a decent rebound in AUD/USD to the 0.6450-0.6455 band after two daily pullbacks in a row.
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AUD/USD Forecast: The bearish outlook remains unchanged near termThe Australian Dollar (AUD) remained under pressure following Wednesday’s marked rebound vs.
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AUD/USD Forecast: Decent contention emerges around 0.6400The Australian Dollar (AUD) reversed three consecutive declines on Wednesday, driven by the corrective knee-jerk in the Greenback, prompting AUD/USD to revisit the 0.6435–0.6440 band.
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