AUD / USD analysis: The Australian dollar is still breaking through


 The Australian dollar rose again during Thursday's session because the US dollar came struggling. Ultimately, the US dollar has been sold off for everything, therefore the gains within the Aussie dollar shouldn't be an enormous surprise. However, this is often also a really sensitive market to the notion of commodities and catalysts, so with this tight correlation, it stands to reason that the Aussie might see little strength and a possible move higher as a result.


 the thought is that incentives will depress the worth of the US dollar, so this works in favor of the Australian dollar, on the other hand, you furthermore may need to bear in mind that we may even see high demand for commodities, and therefore the Australian dollar tends to be very sensitive to so-called "hard commodities", like copper, iron, and aluminum. It also tends to draw in gold, which rises when the US dollar falls. All things being equal, this means that we'll move to a better level over time. I even have no interest whatsoever in trying to short this pair and that I think the 0.75 level will remain support. Ultimately, it had been quite a resistance, and that we tested it to ascertain if there was a symbol of "market memory" or not.



 I feel given enough time, we should always continue heading towards the 0.7750 level, which has been my target for a short time. I feel if we do get a short-term pullback during the Friday session, we probably have a chance to travel long on Monday, so I'll simply search for value if that happens. aside from that, if you're already during a long Australian dollar position like me, you'll be holding onto the position albeit the weekend might bring you some nasty surprises, so be careful for that. Not that anything could affect the worth of the Australian dollar immediately or directly, but there could be little look for safety if politicians act like children over the weekend again, which is usually a true threat. At now, this market remains during a quite "buy on dips" scenario, so you ought to view the Australian dollar as a market during which you ought to buy, not sell.

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