The Australian Dollar (AUD) is hovering just above the 2003 monthly low against the US Dollar (USD), the area around 0.6100 may hold for the moment. Volatility is off the charts Monday (literally) with prices gapping off the open from last week’s close at 0.6210 and opening at 0.6150 before falling further to reach 0.6090 late afternoon yesterday. Trump tariff wars are to blame with sentiment low and markets in disarray with the news of 25% tariffs on Canada and Mexico and 10% on China rattling everyone. The Aussie is back around 0.6185 this morning perhaps post the news that Mexico tariffs have been delayed a month or so. Markets now await Non-Farm Payroll Friday.
Current Level: 0.6225
Resistance: 0.6300
Support: 0.6150
Last Weeks Range: 0.6198- 0.6306