What are the latest trends and analysis for AUD/USD on DailyFX?

1 answers

• Nikolai LindbergApr 07, 2021 · 4 years ago
  As an expert at BYDFi, I can tell you that the AUD/USD pair has been showing some interesting trends lately. The Australian dollar has been gaining ground against the US dollar, driven by positive economic data from Australia. The country's strong employment figures and the rebound in commodity prices have contributed to this upward movement. Moreover, the market sentiment towards the Australian dollar has improved due to Australia's successful management of the COVID-19 pandemic. When it comes to factors that may influence the exchange rate, keep an eye on the Reserve Bank of Australia's monetary policy decisions, any developments in the US-China trade relations, and global economic indicators. In terms of support and resistance levels, the key support level to watch out for is around 0.7500, while the major resistance level is at 0.8000.
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