AUD/USD Forecast – Australian Dollar Continues to Look Strong

The Australian Dollar showed significant gains against the US Dollar on Friday, with the potential to break above the 0.68 level. The buying pressure on the Aussie suggests a breakout is likely, possibly leading to short term pullbacks offering value for investors. The Australian Dollar is influenced by commodity markets, particularly gold and iron prices, as Australia is a major exporter of these goods. Speculation about a potential interest rate cut by the Federal Reserve may also impact the US Dollar. Shorting the Aussie is not advised unless it falls below the 50-day EMA at the crucial 0.6650 level. Keep an eye on economic events with our economic calendar for more insights.