The AUD/USD currency pair is experiencing an uptick, trading 0.35% higher at approximately 0.6710 during the European trading session on Monday. This movement follows significant buying interest near the 20-day Exponential Moving Average (EMA), indicating potential bullish momentum as traders position themselves ahead of upcoming economic data releases.
The strengthening Australian dollar reflects a shift in market sentiment, potentially driven by positive economic indicators from Australia and broader risk appetite. As the exchange rate hovers near critical technical support, further gains could attract additional buying pressure, especially if the pair breaks above recent resistance levels. Traders will closely monitor these developments to gauge the implications for the USD and overall market dynamics.
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Data Source: FX Killer Analysis Team Updated: 2026-01-12 10:50
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.