The Australian dollar went back and forth during the day on Friday, as liquidity would have been a bit of an issue. I believe that the market could rally a bit from here, but the 0.73 level is massively resistive. Gold markets continue to look a little bit negative, so that could work against the value of the Australian dollar, as the 2 or so highly correlated. The US dollar continues to be the strongest currency in the world, and I don’t see that the situation is in a change anytime soon with the Federal Reserve raising interest rates.
Written by FX Empire