AUD Trading Outlook
Australian Dollar (AUD) the AUD/USD broke 1.4000 yesterday and pushed up to 1.0450 with commodities and strong global stocks supporting the Asian commodity currency. The weak jobs data last week and mixed Chinese signals have been brushed aside with the strong demand via EUR/AUD selling the main driver.
Australian Dollar (AUD) the AUD/USD broke higher above 1.0330 towards 1.0380 as stocks rallied and oil gained. EUR/AUD fell to a new record low and GBP/AUD is back towards 1.5000. The Australian currency is defying gravity lately shrugging off the weakness from China and instead tracking the US stock market rally.
Australian Dollar (AUD) the AUD/USD was well supported on a dip to 1.0200 and finished the day near 1.0250. In Asian trade on Tuesday we saw an extension of the rally to 1.0300 on the back of neutral RBA minutes suggesting the central bank was done for now cutting interest rates.
Australian Dollar (AUD) the AUD/USD pushed back above 1.0200 and caught the market on the wrong side after the large sell off seen after June’s weak Jobs data last week. The outlook is for more gains with the support on dips been relentless lately.
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