- AUD/USD: picking up a bid on weakness in dollar turning from daily highs
- AUD/USD: markets awaiting Trump's Iran announcements at 1800GMT
AUD/USD spiked up towards the hourly 10-SMA while the dollar comes off a little from highs on the 93 handle at 93.2800. Currently, AUD/USD is trading at 0.7456, down -0.82% on the day, having posted a daily high at 0.7545 and low at 0.7434.
AUD/USD dropped to a fresh eleven-month low of 0.7454 during the European morning. The dollar has been in demand following Powell's hawkish speech and before Trump makes his announcements over the nuclear deal on Iran at 1800GMT.
Noise moving markets
The US Federal Reserve chairman Jerome Powell warned today that some investors may not be well positioned for anticipated US interest rate hikes, triggering US Dollar appreciation.
Trump seems intent on withdrawing from the deal and seeks to put in a strategy to confront the regimes hostile actions and to ensure Iran never acquires a nuclear weapon. However, it is unclear as to what he will announce today, but the markets are running with a staggered exit from the plan. However, if the US does pull out, the deal will not implode as there are a number of nations involved in the deal.
- WTI drops hard on Iran noise, Trump to allow sanctions to go forward
- BREAKING: Trump has told French President Macron that the U.S. will withdraw from the nuclear deal with Iran, source says - NY Times
- Trump tells Macron he will leave Iran nuclear deal - NYT
There was a 0.7492-0.7527 range in Asia while 0.7473 was last week's low after Australia's budget forecasts that came with an early return to surplus and cuts to the personal taxes in the budget.
AUD/USD levels
The price has been capped by the descending 10-D SMA and AUD/USD continues to trade below the monthly and daily trend line. The price has been failing on previous upside attempts with fading at play and technicals remain bearish with the monthly RSI biased down. 0.7420 is the key bearish target in the near term while, on the wide, a break higher and through the rising 200-D SMA on the 0.78 handle, 0.7910 will be in focus
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD keeps the gradual recovery in place
AUD/USD regained balance and returned to the area beyond the 0.6500 barrier on Thursday, leaving behind the recent pullback. The pair’s rebound came on the back of the strong selling pressure in the US Dollar amid poor data, bets for further Fed rate cuts and trade uncertainty.
EUR/USD has room to advance further
EUR/USD hit fresh tops north of 1.1600 the figure for the first time since October 2021 against the backdrop of an increasingly deteriorated USD outlook. Indeed, the strong selling pressure in the Greenback came in response to another discouraging US inflation results, extra easing of the labour market, and expectations of maybe three rate reductions by the Fed this year.
Gold consolidates its gains near $3,380
Gold maintains its weekly rebound well in place, now trading in the sub-$3,400 region per troy ounce in response to the persistent selling bias in the US Dollar, declining US yields across the curve and growing geopolitical tensions.
Cardano Price Forecast: Whales acquire 310 million ADA amid potential triangle breakout
Cardano (ADA) shows weakness as it reverses from an overhead trendline of a triangle pattern. The altcoin edges lower by over 1% at press time on Thursday, fueling a steeper correction in its Open Interest. Amid weakness, Cardano whales have acquired 310 million ADA tokens so far this month, projecting increased confidence as the triangle pattern nears resolution.
US tariffs here to stay, trade deals ‘largely symbolic’
Despite legal challenges to IEEPA tariffs, US trade policy remains firm. Tariffs on steel and aluminium have doubled, and new sectoral tariffs are expected. Trade deals may emerge, but most will be symbolic. Effective tariff rates will stay high throughout 2025.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.