AUD/USD

Roughly 5.1% of daily trades. Nicknamed “Aussie,” its value is tied to Australian commodity exports like iron ore and coal.

AUD/USD

**AUD/USD Weekly Outlook: Key Support Holds Amid Market Tug-of-War**

AUD/USD remains in a corrective phase within its broader uptrend after recent volatility driven by US inflation data and RBA commentary. Key support sits at 0.6590 and 0.6550, while resistance near 0.6713 caps upside momentum. Momentum indicators suggest caution, with the pair oscillating between the 20- and 55-day moving averages. A break below 0.6550 could open the door to a retest of May’s low at 0.6469, but above 0.6713, bullish momentum may resume. Traders should watch these levels closely in the coming sessions. Source: ActionForex.com with additional analysis.

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