AUD/USD Eyes 0.7080: Could This USD Weakness Spark Your Next Big Trading Move?
Ever catch yourself wondering if the Aussie dollar’s got a secret spring in its step? Well, Wednesday might just have been the day it decided to show off. The AUD/USD pulled a neat little reversal, climbing nearly 0.61%, as the US dollar found itself a bit on the ropes—blame it on a sunnier market mood and some surprisingly solid US economic data that just lifted spirits across the board. At this moment, the pair is flirting with the highs of the day at 0.7077, making you wonder—are we looking at the start of a new bullish run for the Aussie or just a momentary blip on the radar? With technical indicators like the RSI flashing hopeful signs above the neutral zone, and price thresholds waiting to be breached, it’s a market story that’s far from settled. So, what’s next for this currency tango? Buckle up—things might just get interesting. LEARN MORE
The AUD/USD reversed its course, climbing some 0.61% on Wednesday as the US Dollar remains on the backfoot due to an improvement in market mood, sponsored by solid US economic data. At the time of writing, the pair trades at 0.7077, poised to end near the day’s high.
AUD/USD Price Forecast: Technical outlook
The AUD/USD technical picture remains bullishly biased after the nearly 1% loss on Tuesday, which pushed the Aussie to a fresh four-week low of 0.6944. Despite this, momentum seems constructive as depicted by the Relative Strength Index (RSI) with the index above its 50-neutral level and aiming higher.
Given the backdrop, the AUD/USD could extend its gains if bull reclaimed the March 3 daily high of 0.7122. A decisive break will expose the yearly high of 0.7147 ahead of 0.7200.
On the downside, the first support is seen at 0.7000. A breach of the latter will expose the March 3 swing log of 0.6944 ahead of the 50-day SMA at 0.6904.
AUD/USD Price Chart – Daily
Australian Dollar Price This week
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies this week. Australian Dollar was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 1.13% | 0.35% | 0.64% | -0.02% | -0.32% | 0.23% | 1.52% | |
| EUR | -1.13% | -0.78% | -0.49% | -1.14% | -1.44% | -0.90% | 0.38% | |
| GBP | -0.35% | 0.78% | 0.11% | -0.37% | -0.67% | -0.13% | 1.16% | |
| JPY | -0.64% | 0.49% | -0.11% | -0.62% | -0.92% | -0.30% | 0.90% | |
| CAD | 0.02% | 1.14% | 0.37% | 0.62% | -0.34% | 0.31% | 1.54% | |
| AUD | 0.32% | 1.44% | 0.67% | 0.92% | 0.34% | 0.54% | 1.85% | |
| NZD | -0.23% | 0.90% | 0.13% | 0.30% | -0.31% | -0.54% | 1.30% | |
| CHF | -1.52% | -0.38% | -1.16% | -0.90% | -1.54% | -1.85% | -1.30% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
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