AUD/USD oscillates at around the 20-day EMA on risk-on mood, RBA minutes eyed AUDUSD Majors Macroeconomics Technical Analysis
ter UBS decided to buy Credit Suisse, perceived by traders as an excuse to buy riskier assets. That, alongside speculations for less aggressive monetary policies amongst central banks, weighed on the US Dollar. At the time of writing, the AUD/USD exchanges hands at 0.6715.The financial markets’ mood remains upbeat after the banking crisis saga and appears to be calm. However, in the United States , First Republic Bank stock plunged after another credit downgrade.
On the Australian front, the lack of data left traders adrift to risk appetite. Even though China’s reopening should bolster the Australian Dollar , the latest rate hike by the Reserve Bank of Australia , was perceived as a dovish one, which would exert downward pressure on the AUD/USD.After dropping below the 0.6600 figure, the AUD/USD reclaimed the 0.6700 figure. Nevertheless, the 20-day Exponential Moving Average at 0.6713 is difficult to surpass, as the AUD/USD is forming a dragonfly doji.
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