Thursday saw another negative session of the US Dollar (USD), prompting AUD/USD to build on Wednesday’s gains and extend the trespass of the 0.6500 barrier along with the key 200-day SMA (0.6520).
AUD/USD added to Wednesday’s uptick north of 0.6500. The late loss of momentum in the Dollar helped the pair’s upside. Markets’ attention now shifts to the US NFP. Thursday saw another negative session of the US Dollar , prompting AUD/USD to build on Wednesday’s gains and extend the trespass of the 0.6500 barrier along with the key 200-day SMA .
Given the Fed's commitment to tightening monetary policies and the likelihood of the RBA starting an easing cycle later this year, sustained gains in AUD/USD are currently perceived as limited. Additionally, recent economic data from China has not provided clear indications of a robust recovery, which is essential for bolstering a significant rebound in the Australian dollar.
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