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Media OutReach Newswire – 28 June 2024 – In the competitive realm of Forex trading, Phillip MetaTrader 5 introduces zero spreads and zero commission on the AUD/USD currency pair, aiming to redefine the trading experience. Delve into the intricacies of the AUD/USD pair, influenced by economic indicators, technical trends, and global events. This article provides valuable insights into its volatility drivers and effective strategies for navigating its dynamic trading landscape.
Introduction to AUD/USD
The AUD/USD currency pair represents the value of the Australian dollar (AUD) relative to the US dollar (USD) and is one of the most actively traded pairs in the Forex market. The pair is significantly influenced by economic indicators from both Australia and the United States, including interest rate decisions, GDP growth, employment data, and trade balances.
Historical Context and Volatility
The Australian economy’s reliance on natural resources and commodity exports, especially iron ore, coal, and gold, makes the AUD/USD pair sensitive to commodity price fluctuations and demand from major trading partners like China. Additionally,
the interest rate differential between the Reserve Bank of Australia (RBA) and the Federal Reserve (Fed) can impact the exchange rate, with higher interest rates in Australia typically strengthening the AUD. The pair is also influenced by risk sentiment, appreciating during times of global economic optimism and depreciating during periods of economic uncertainty. Trade relations between Australia and major partners, particularly the US and China, play a crucial role, and any changes in
trade policies, tariffs, or geopolitical tensions can affect the AUD/USD pair.
The AUD/USD currency pair is known for its volatility, reacting to
global economic events, commodity price changes, and geopolitical developments. It is most active during the overlapping trading hours of the Australian, Asian, and US sessions. The pair’s historical context includes significant fluctuations due to major economic events such as the Global Financial Crisis in 2008, changes in commodity prices, and differing monetary policies between the RBA and the Fed. Overall, the AUD/USD pair is dynamic and heavily monitored by traders and investors who consider various economic factors and global events to validate their trading strategies.
Technical Outlook for AUD/USD
After peaking around 0.8000 in February 2021, the AUDUSD has been on a massive downtrend to currently hovering around the 0.6650 region. The pair started the year at 0.68 where sellers dominated the markets, and eventually bottomed at 0.6360 on 19 April after which the
AUDUSD posted a strong rebound to test the resistance zone of 0.6700. Throughout May and June, the AUDUSD consolidated in a narrowing range, forming a symmetrical triangle. The symmetrical triangle is typically a continuation pattern, however, as there isn’t a strong bullish trend preceding the pattern, there isn’t a clear directional bias. Despite the lack of clear direction, traders can await for the confirmation by a breakout in either direction. An upside breakout from the triangle would provide opportunity for traders to trade an
uptrend towards a price target at 0.687, while a downside breakout would send
the pair testing support around 0.6440.
Zero Spreads, Zero Commission
Traders can now experience unparalleled trading conditions with an exclusive zero spreads, zero commissions offer on the
AUD/USD currency pair. With zero spreads, traders can enter and exit trades at the exact market price, ensuring traders capture
every potential pip of profit.
No commission mean traders retain 100% of the gains, enhancing the overall trading performance. Take advantage of this unique opportunity to trade AUD/USD with no hidden fees and see the difference it can make to the trading success. Learn more
here.
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