FX News

AUD/USD Transfer

The AUD has been soft over the last week, trading consistently below 0.6600. The underlying recessionary economic conditions prevail and this is not likely to change. The markets will closely watch Australian Commodity prices, inflation and PMI data to determine any economic mood change. The biggest influence on the currency is expected to be the FOMS meeting and the impact on the reserve currency. Hawkish Federal reserve commentary is likely to exacerbate the AUD

Current Level: 0.6590
Support: 0.6550
Resistance: 0.6700
Last week’s range: 0.6554 – 0.6600

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