This AUDUSD analysis reviews the currency pair from technical and fundamental aspects. It also features trend examination, price forecasts, support and resistance levels, and trading signals.
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AUDUSD Analysis & Live Chart
AUDUSD Fundamental Analysis
Bloomberg—The Australian dollar dropped to around \$0.657 on Thursday, ending its three-day winning streak. This decline followed disappointing trade data from May, with the trade surplus shrinking to AUD 2.24 billion. That figure was far below both April’s revised AUD 4.86 billion and market expectations of AUD 5.09 billion.
The trade surplus was the smallest in almost five years. Exports fell to a three-month low, partly due to reduced shipments to the US, which were impacted by tariffs. Weak economic signals from China also weighed on sentiment.
China’s services PMI slipped to a nine-month low, missing forecasts and raising concerns since China is Australia’s biggest trading partner.
Global trade tensions added to market unease. Investors grew wary about the new US-Vietnam trade deal and possible moves to cut China out of key supply chains. Despite these concerns, the Australian dollar stayed close to its recent highs, thanks to a softer US dollar as markets priced in potential Fed rate cuts.
Looking ahead, traders are focused on next week’s Reserve Bank of Australia meeting. Markets widely expect a rate cut, given sluggish growth and easing inflation pressures.
AUDUSD Technical Analysis
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