AUD/USD Forecast: Aussie climbs to the 20-day SMA

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AUD/USD Forecast: Aussie climbs to the 20-day SMA
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The AUD/USD started the week lower due to developments in the Middle East over the weekend. However, during the American session, it reversed directio

AUD/USD Current Price: 0.6405 The Australian Dollar successfully erased its losses against the Greenback. Conflict in the Middle East generates new concerns. The AUD/USD pair climbed above 0.6400, supported by a weaker Dollar. n and rose to a one-week high above 0.6400, driven by an improvement in market sentiment. The US Dollar lost momentum during the American session as stocks on Wall Street turned positive.

The AUD/USD pair could maintain its firmness if market conditions remain stable. The risk of a deterioration in market sentiment is being offset by a decline in Treasury yields. AUD/USD short-term technical outlook The AUD/USD pair exceeded the 20-day Simple Moving Average and the 0.6400 level on Monday, reinforcing its recovery from monthly lows. The technical indicators on the daily chart continue to show improvement for the Aussie, although the overall trend remains bearish.

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