The Aussie is a currency that has become a favored vehicle of traders in recent years. After a multi-decade commodity boom brought the Australian Dollar to all-time highs against the US Dollar, traders were often attracted by the interest rate differential in the pairing. This allowed traders to earn rollover for being long AUD/USD, while also benefitting from a massive bull run seen in the pair. Of recent, tides have appeared to change as economic difficulties in China coupled with bear markets in metals and many commodities, have created a more opaque picture of the future of Australia's financial prospects.

Support & Resistance

AUD/USD, EUR/USD Ride Daily 8-EMAs Ahead of GDP, Yellen
S10.7065 W R30.7450 M
S20.6827 S R20.7331 M
S30.6745 M R10.7243 M


AUD/USD, EUR/USD Ride Daily 8-EMAs Ahead of GDP, Yellen

With key events on the US calendar and a three-day weekend ahead, market risk is highest during the North American morning hours today.
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Analyst Picks

Michael Boutros   

Currency Strategist

My Picks: Near-term Setups in GBPUSD, NZDUSD, USDCAD & AUDUSD
Expertise: Short-term Techncials
Average Time Frame of Trades : 1-2 Days

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