“swing Trading The Aussie Dollar: Maximizing Profits In The Forex Market” – For more than a year, most of the market and many of our risk ratios have been unchanging chaos.

High beta and low volatility, copper versus gold, and our usual risk-to-risk ratio haven’t gone anywhere since early 2021.

“swing Trading The Aussie Dollar: Maximizing Profits In The Forex Market”

AUD/JPY also falls into the range bound category as the risk pair is very similar to the above ratio.

Selling Pressure Could Drive Aud/usd Into .7153

However, AUD/JPY has shown resilience over the past few weeks and is currently resisting the upper bounds of its multi-month range.

Since most risk appetite indicators don’t give us much in the way of new data these days, a resolution above AUD/JPY would be a huge improvement.

In today’s post, we dive into one of our favorite metrics – the AUD/JPY cross – and discuss what it suggests about risk-seeking behavior at the moment.

They stopped rising at the same time last year and are revisiting their previous highs today.

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It is no coincidence that this forex cross looks almost like a copper chart. Australia’s economy is rich in natural resources, resulting in a strong relationship between the Australian dollar and commodities.

On the other hand, the Japanese yen is more of a defensive play due to yen carry trades, making it the riskier side of the equation.

After last week’s saw-saw in copper, we are eyeing AUD/JPY for a decisive break above the 2021 highs near 86.

This is a sign that risk-seeking behavior is re-entering the market, and also supports the eventual resolution of the bullish copper.

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The direction in which this important measure of risk is resolved will provide important information to the structural outlook of the current rally in commodities and risk assets in general.

Now we want to err in the direction of the main trend, which is higher. But until prices confirm this, the jury is still out on risk appetite.

Premium members can login to access our weekly currency report. Please login or start your 30-day risk-free trial today. AUD/USD is moving higher and could go above 0.6615. NZD/USD is also rising and may move up to the 0.6145 resistance zone.

· The Australian dollar started a new uptrend from the 0.6520 and 0.6550 levels against the US dollar.

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· A break above the main downtrend line with resistance near 0.6520 on the AUD/USD hourly chart.

· A break above the main downtrend line with resistance near 0.6020 on the NZD/USD hourly chart.

On the AUD/USD hourly chart, the pair started a new rally from the support of 0.6460. The Australian dollar managed to clear the 0.6500 resistance to start a sustained trend against the US dollar.

It cleared the 50-hour simple moving average and the main downtrend line with resistance near 0.6520. The upside move was such that the bulls pushed the pair lower than the 61.8% Fib retracement level of the downside move from the high swing of 0.6660 to 0.6462.

Unusual Price Swings Around Daily Fx ‘fixes’ Spark Alarm

The AUD USD chart shows that the pair is currently resisting near 0.6615. It is near the 76.4% Fib retracement level with a move down from the 0.6660 high to the 0.6462 low.

A break above the 0.6615 resistance could send the pair higher. The next major resistance is near the 0.6660 level. Any more gains could open the doors for a move to the 0.6700 resistance zone.

On the downside, initial support is near 0.6550. The next support could be the 0.6520 level and the 50-hour simple moving average. If there is a negative break below the 0.6520 support, the pair may extend its decline to the 0.6460 level. Any further losses could indicate a move to 0.6400.

On the AUD/USD hourly chart, the pair formed a base from the 0.5990 level. The New Zealand dollar has started a nice upward move from the 0.6020 resistance against the US dollar.

Look For Audusd Sell Off

There was also a break above the main downtrend line with resistance near 0.6020. The pair is now trading above the 50-hour simple moving average and the 23.6% fib-retracement level of the main bearish 0.6302 high to 0.5988 low.

The NZD USD chart shows that the RSI is rising and could take the pair to the 0.6145 resistance. It coincides with the 50% Fib retracement level of the major decline from the 0.6302 high to the 0.5988 low.

The next major resistance is near the 0.6230 level. A clear move from the 0.6230 level could even push the pair to the 0.6300 level. Any further gains could open the door for a move to the 0.6350 resistance zone in the coming days

On the downside, there is key support near 0.6060. The next major support is near the 50-hour simple moving average at 0.6020.

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If there is a break below the 0.6020 support, the pair may slide towards the 0.5990 support. Any further losses could send NZD/USD to 0.5950.

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Commodity Prices And Currency Movements

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The AUD/USD currency pair in Forex belongs to the specialty category. However, novice traders often sleep on it, preferring the classic EUR/USD or British Pound and Japanese Yen. One reason is the news base. The media actively discuss the news of the American and European markets, while there is little information about Australia. The country hardly participates in global geopolitical events, and it is for this reason that it is relatively easy to predict the Australian dollar. In this review, you will get acquainted with the specific features of AUDUSD trading: you will understand what factors affect the exchange rate, what are the advantages of trading the Australian dollar, how to best trade the pair in the Forex market and what strategies. are best suited for it.

Since 2000, the Australian dollar has slowly but steadily strengthened against the US dollar. Until 2008, the value of the Australian dollar was almost 1:1. But the global crisis of 2008 hit the Australian economy harder, and the national currency depreciated almost twice against the dollar.

The parity eventually recovered and in June-July 2011 one AUD was equal to 1.1 USD. But the Aussie did not last long in its heyday: in late 2013, the AUD fell below the US dollar, and then began a long downward movement with a deep upward correction. In March 2020, amid challenges in the Australian economy due to the pandemic and natural disasters, the rate was renewed at a 20-year historical low.

Australian Dollar Price Outlook: Aussie Plunges To Technical Support

Many beginners choose to start trading EUR/USD on Forex. This is partially justified because the pair reacts strongly to the news and allows traders to make money during the day. AUD/USD has a more stable movement, so it is more suitable for long-term trading strategies.

Over the past few years, the AUD/USD exchange rate has come under severe pressure from fundamental external factors, primarily affecting the weakening and strengthening of the US dollar:

Both countries have their own motivations for strengthening or weakening their national currency. A strong currency is bad for exporters, but so is a weak exchange rate

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