AUD/USD Transfer

ByDragana My Engine Lab

The Australian Dollar (AUD) reversed last week’s slump to 0.6450 rising to 0.6550 in early morning trade against the US Dollar (USD) buoyed by risk sentiment. Reports indicate Iran has signalled a willing to negotiate with the US prompting optimism of a potential de-escalation in the war between Iran and Israel. Helping the AUD has been the news that China house prices have made slight improvements offering support due to the Australian economy iron ore construction needs. The Fed meet midweek and should leave their cash rate at 4.5%, rhetoric around changing policy and potential rate cuts could shift prices.

Current Level: 0.6506
Resistance: 0.6550
Support: 0.6400
Last Weeks Range: 0.6455 – 0.6545

 

 

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