- The AUD / USD forecast indicates a stronger Australian dollar as a risk appetite improves.
- Trump announced a trade with Japan.
- Economies like the EU, Canada, Mexico, South Korea and Brazil are still facing the risk of larger tariffs.
AUD / USD Forecast indicates a stronger Australian dollar as a risk appetite improves after US-Japanese trade. Participants in the market hope for several countries will sign bids before the tariff deadline of 1. August.
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The Australian dollar gathered after Trump announced a trade with Japan. The trade agreement leaves Japan with a 15% reciprocal tariff on its exports in the United States. At the same time, Trump said that Japan would invest $ 550 billion in the United States.
The trade agreement saved Japan to face 25% of the Charter Tariff. At the same time, it has increased the optimism of the market on current trade talks. More trade offers reduces the risk of global trade wars that would injure the risk appetite. As a result, the Australian dollar sensitive to each agreement.
However, large economies like the EU, Canada, Mexico, South Korea and Brazil and are still faced with the risk of larger tariffs coming 1. August. At the same time, some of these nations are ready to revenge if tariffs are applied. Therefore, uncertainty is remained on the appearance of the global economy, which will probably keep the cover on Australian gains.
AUD / USD Key events Today
The market participants do not provide for the editions of a high impact from Australia or the United States. Therefore, all focus will remain in trade development.
AUD / USD TECHNICAL VONITA: The bulls crossing to cause a resistance to the range of 0.6590
On the technical page, the price AUD / USD approaches the resistance zone of the range of 0.6590. The price trades far above the 30th, with the RSI in the region with excessive then suggesting solid bias. However, since the price still trades in its range, it is in greater consolidation.
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AUD / USD is traded with lateral movement between support from 0.6500 and resistance at 0.6590. The bears tried to kick out of range on several occasions, but without success. In the most recent attempt, the price broke under the support of 0.6500. However, the bulls return quickly to return the price to range.
After that, they pushed above the 30ths and maintained sharp rally to the range resistance. The pause above the resistance will strengthen bias for buffaloes.
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