AUD/USD Forecast: Australian Dollar Continues to Fight

  • The AUD/USD currency pair initially pulled back a bit Monday, but then turned around to show plenty of strength.
  • The market then started to reach the 50-day EMA, which is a large indicator that a lot of people pay close attention to.
  • The market is sitting just below the 0.70 level, which is a large, round, psychologically significant figure.
  • With that being the case, it does make quite a bit of sense that we would see hesitation.

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