What's going on with the AUD/USD?

On the daily chart, the AUD/USD continues to move between the 20-day Simple Moving Average (SMA) and the 55-day SMA (0.6505). The 0.6400 level has become a relevant support, and a consolidation below it should bring further weakness to the Aussie, exposing the 20-day SMA at 0.6360.

What's going on with AUDUSD in 2023?

Don't miss our 2023 AUDUSD forecast! The Australian Dollar is facing headwinds yet again against the US Dollar, as the central bank divergence theme is back in play in early 2023.

What drives the Aud to a lower level in 2022?

“Other factors that drive the AUD are commodity prices, interest rate differentials, and external trade balance,” Zaman says–but in 2022, the dominant driver of the downwards move was the strong US dollar.

Why did AUD/USD fall to 0.6400?

AUD/USD falls to near 0.6400 as the appeal for the US Dollar improves. The US Dollar strengthens ahead of Powell’s speech. RBA Bullock kept hopes of further rate-tightening alive, citing that the progress in inflation declining to 2% has slowed.