When it comes to the Australian dollar's outlook, it is expected to continue oscillating back and forth, making it difficult to form a decisive opinion on this currency pair.
Recent inflation figures from the Australian economy were less than favorable, contributing to the Australian dollar's decline A closer look at this market reveals its noisiness, and currently, there seems to be little hope for a substantive change in the immediate future. Both the 200-Day EMA and the 50-Day EMA indicators remain essentially flat, reflecting the lackluster attitude of traders towards this currency pair. The Australian dollar is heavily influenced by commodity markets and overall global growth trends.
The Australian dollar's outlook remains choppy, making it a market of interest primarily for short-term range-bound traders.
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Source: FXStreetNews - 🏆 14. / 72 Read more »