Australian Dollar ($AUD/USD) Forex Forecast: Down 0.8% Today

What is Australian Dollar?

The AUD/USD currency pair showcases the exchange rate of the Australian Dollar (AUD) versus the US Dollar (USD). The Australian dollar is affected by a range of factors such as economic data, market sentiment, and commodity prices.

Why is Australian Dollar going down?

AUD/USD forex is down 0.8% on Aug 5, 2024 5:57

• The bearish movement in the AUD/USD pair today may be linked to profit-taking by investors following recent gains.
• Anticipation surrounding key economic data, especially Australian inflation data, could have spurred increased volatility and selling pressure on the pair.
• The AUD's 3% decline against the USD in the last fortnight likely played a role in the bearish sentiment and technical selling seen in the market.
• Today's market activity seems to be a result of a mix of profit-taking, economic data anticipation, and recent downward pressure on the Australian dollar.

AUD/USD Price Chart

AUD/USD Technical Analysis

AUD/USD News

AUD/USD Gains Amid Anticipation For Key Economic Data

The AUD/USD pair is climbing towards 0.6552 on Monday. The Australian dollar is bouncing back from a 12-week low as investors await Australian inflation data. In the past two weeks, the AUD, in the currency pair with the USD, has fallen more than 3%.

https://www.benzinga.com/24/07/40010969/audusd-gains-amid-anticipation-for-key-economic-data

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Australian Dollar Price History

05.07.2024 - AUD/USD Forex was down 0.8%

• The bearish movement in the AUD/USD pair today may be linked to profit-taking by investors following recent gains.
• Anticipation surrounding key economic data, especially Australian inflation data, could have spurred increased volatility and selling pressure on the pair.
• The AUD's 3% decline against the USD in the last fortnight likely played a role in the bearish sentiment and technical selling seen in the market.
• Today's market activity seems to be a result of a mix of profit-taking, economic data anticipation, and recent downward pressure on the Australian dollar.