AUD/USD Price Forecast: Doji high guards bulls as Fed bets bite
- AUD/USD ends Friday higher, but posts weekly losses.
- Bullish RSI supports upside despite Fed-driven Dollar strength.
- Break above 0.7237 exposes 0.7277 and 0.7300 next.
The AUD/USD ended the day in the green but finished the week 0.45% lower amid growing bets that the Fed will raise rates next week, boosting the US Dollar. Nevertheless, on Friday, the pair traded at 0.7171, up a decent 0.38%.
AUD/USD Price Forecast: Technical Outlook
From a technical perspective, AUD/USD closed the week on the back foot, but the daily chart suggests a possible consolidation lies ahead.
Momentum, as measured by the Relative Strength Index (RSI), is bullish, indicating further upside.
Although the market structure points to higher prices, buyers must clear the high of the ‘doji’ formed on September 9 at 0.7237. In that outcome, the next ceiling level will be the May 6 high at 0.7277. Above, the next area of interest is the 0.7300 milestone.
In a bearish scenario, if AUD/USD dives below the September 11 low of 0.7150, a move towards 0.7100 is on the cards. The next downside levels will be the 100-day Simple Moving Average (SMA) at 0.7080, followed by the 50-day SMA at 0.7066.
AUD/USD Price Chart – Daily
Australian Dollar Price Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.11% | -0.10% | -0.58% | 0.28% | -0.18% | -0.26% | 0.38% | |
| EUR | -0.11% | -0.23% | -0.64% | 0.19% | -0.29% | -0.42% | 0.28% | |
| GBP | 0.10% | 0.23% | -0.42% | 0.41% | -0.08% | -0.17% | 0.58% | |
| JPY | 0.58% | 0.64% | 0.42% | 0.87% | 0.37% | 0.29% | 1.01% | |
| CAD | -0.28% | -0.19% | -0.41% | -0.87% | -0.46% | -0.56% | 0.17% | |
| AUD | 0.18% | 0.29% | 0.08% | -0.37% | 0.46% | -0.10% | 0.65% | |
| NZD | 0.26% | 0.42% | 0.17% | -0.29% | 0.56% | 0.10% | 0.76% | |
| CHF | -0.38% | -0.28% | -0.58% | -1.01% | -0.17% | -0.65% | -0.76% |
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).
Nothing in this material constitutes investment advice, personal recommendation, investment research, an offer, or a solicitation to buy or sell any financial instrument. The content has been prepared without consideration of your individual investment objectives, financial situation, or needs, and should not be treated as such.
Past performance is not a reliable indicator of future performance and/or results. Forward-looking scenarios or forecasts are not a guarantee of future performance. Actual results may differ materially from those anticipated.
Mitrade makes no representation or warranty as to the accuracy or completeness of the information provided and accepts no liability for any loss arising from reliance on such information.
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