Quotations of antipode currencies are definitely gaining in recent weeks. It seems that the main factor of their earlier weakening were the risks associated with tensions between the USA and China. There were fears that the impact of tariffs on China would slow down their economy, which in turn would translate into the entire region. Recently, however, there has been slight warming in this matter, and there is more and more talk of President Trump’s willingness to agree. Hence, increases in the currencies of Australia and New Zealand. On the other hand, the party of President Trump lost control over the House of Representatives in the elections. This, in turn, raises concerns about the Democrats slowing its policy, which may slow the dollar’s appreciation caused by the Fed’s monetary policy. In this configuration, there was a green light to change the trend on AUD / USD. After recent increases, there will probably be a correction soon. In the longer horizon, however, it is worth observing the resistance level in the area of 0.73. The possible breaking of resistance would mean going beyond the previous high, and here the rise slightly exceeds the range of the largest correction so far in the downward trend. Potentially, after a whole year of decline, the end could belong to the demand side.

Leave us a comment!

Error, group does not exist! Check your syntax! (ID: 3)