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

avatarSomnathDec 24, 2021 · 3 years ago1 answers

Can you provide me with the latest trends and analysis for the AUD/USD pair on DailyFX? I'm particularly interested in understanding the current market sentiment and any potential factors that may influence the exchange rate. Additionally, it would be helpful to know if there are any key support or resistance levels to watch out for.

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

1 answers

  • avatarDec 24, 2021 · 3 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.