In the Australian dollar market, external pressures play a significant role due to its commodity-driven nature and sensitivity to Asia. If we drop below certain moving averages, we may reach the 0.6450 level, signaling a negative shift and a risk-off move. The market seems to be fluctuating back and forth at the moment, making it a challenging pair to trade. It is important to proceed with caution in this situation, as the market appears to be unpredictable. While there are signs of potential recovery, there is still a lot of uncertainty ahead. Stay updated on economic events by checking out our economic calendar.
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