AUD/USD

AUD/USD held above key support near 0.6570 last week, but upside remains capped below 0.6700 amid cautious central bank signals. The Reserve Bank of Australia’s steady hawkish tone contrasts with the Fed’s patient stance, while commodity rebounds support the Aussie. Technicals show limited momentum to challenge medium-term resistance around 0.6738. Watch for a break below support or a sustained move above 0.6720 to signal next directional bias.

AUD/USD showed mixed action last week, testing resistance near 0.6700 but unable to sustain a break higher. Key supports at 0.6586 and 0.6462 remain intact, while momentum indicators signal a critical pivot. Monitoring RBA policy and U.S. inflation data will be essential as the pair seeks directional clarity.

Certainly, the AUD/USD pair is showing signs of short-term stabilization after recent declines, with support holding near 0.6600. However, overall bearish momentum persists as resistance around 0.6780 to 0.6840 remains intact. Traders should watch key technical levels closely as broader economic factors continue to influence the Aussie dollar’s trajectory. For detailed analysis, consult reports from ActionForex, DailyFX, Investing.com, and FXStreet.

AUD/USD remains range-bound after rebounding from May lows, struggling to decisively break resistance near 0.6700 amid mixed sentiment on US rates and China’s economic outlook. Momentum is flat with key support at 0.6580 and resistance around 0.6703. Traders should watch Federal Reserve signals and Australian data for clues on the next directional move. Original analysis courtesy of ActionForex, with supplementary insights from DailyFX and ForexLive.

Global central banks trimmed holdings of the Japanese yen and Australian dollar significantly in Q1 2024, according to MUFG. This shift reflects changing confidence and portfolio rebalancing amid evolving economic and monetary conditions. Meanwhile, the US dollar’s share of official reserves increased, highlighting its continued dominance.

Global FX reserve managers sold significant amounts of Japanese yen and Australian dollars in Q1 2024, according to MUFG’s analysis of IMF COFER data reported by Justin Low (ForexLive). This marks the largest quarterly net sales of JPY and AUD on record, with proceeds largely redirected into US dollars—pushing the USD share to its highest since 2014. Euro holdings remained stable, while smaller gains were seen in CHF and CAD. These moves reflect evolving central bank strategies focused on yield, risk, and diversification amid a shifting macro landscape. Traders and policymakers should closely monitor these trends for future currency rotations.

Central bank reserve managers divested from the Japanese yen and Australian dollar in Q1 2024, shifting allocations toward the US dollar and euro. This reflects concerns over low yields in JPY, subdued RBA tightening, and evolving global economic conditions, per MUFG’s analysis of IMF COFER data. For more insights, see reporting by Adam Button at ForexLive.

FX reserve managers significantly reduced JPY and AUD holdings in Q1 2024, favoring the USD amid shifting global liquidity and yield dynamics. This reallocation signals evolving central bank strategies in a complex macro environment. (Source: MUFG/ForexLive) #Forex #FXReserves #JPY #AUD #USD

AUD/USD slips lower after failing to break key resistance near 0.6770. Bears are gaining control with the pair trading below major MAs and RSI turning bearish. Watch 0.6700 support closely—breach could open doors to 0.6645 and further downside. #forex #AUDUSD #tradinganalysis #fx

AUD/USD slips as resistance near 0.6760-0.6780 holds firm. Bears push price below 0.6700 amid fading momentum—RSI dips & MACD signals more downside. Watch key support at 0.6620. RBA steady; Fed hints at one more hike. Volatility and economic caution weigh heavy. #Forex #AUDUSD #TradingAnalysis