- Outlook AUD / USD is Bullish as the pair recovered quickly after the ceasefire.
- U.S. dollar and raw oil lost all gains that are accumulated after escalation in the Middle East.
- Participants in the market expect to alleviate the Fed to start as soon as July.
The price of AUD / USD jumped a sharply, routing recovery from losses published on Monday due to escalated tension in the Middle East. The announcement of the weight stops is at the American dollar that chose the strength after the attack of America at three nuclear locations Iran. AUD / USD Pair quickly reversed the course as fear of escalation.
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The initial reaction of the risk of the risk of risking is affordable for the US dollar and crude oil. However, confirmation that Iranian attacks on American bases in Qatar and Kuwait did not cause any victims, they helped the market stabilization. As a result, Aussie shaft sensitive is pulling as a wider sense of risk became positive.
The couple regained level 0.6500, accelerating more than 2% of the fall on Monday and became the best performing currency. Rally was further amplified by the announcement of the President Trump “full agreement on the interruption of the truce” Iran and Israel. De-escalation immediately weighed at oil prices and property in a safe haven, including US dollars and gold that gave space to a greater return currency such as Aussie.
Data on Australia Weekend PMI could not leave any impact on markets, traders now focused on American monetary policy. Officials fed Bowman and William have shown that Fed can reduce the rates in early July. However, the CME Feventh tool shows a probability of 22% to cut the July rate while 77% for September. These events weighed on the Greenback.
Investors now focus on the testimony of the Fed Stolt of Pismo before the Congress is because the markets are eager to find traces of harmonized Fed policy.
AUD / USD Technical Outlook: Trendline Pause Resistance
AUD / USD 4-hour chart shows a solid recovery from the support zone below 0.6400. Pet Conseucitve Bullish candles on the chart reveal strong compensation as the price has increased above the key reliable average. Moreover, the RSI also rose to 60.0, which means space for further winnings.
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However, the price was found slight resistance to trend. The couple can consolidate about 0.6500 before continuing higher. The following bulls for bulls live at 0.6550 advance from 0.6600. On the flip side, 0.6440 and 0.6380 will be key support for viewing.
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