AUD/USD reached a YTD high, but profit-taking tumbled the pair below 0.7500 By christianborjon AUDUSD Majors Macroeconomics Technical Analysis
The AUD/USD is down 0.28% in the last week of March, on a mixed market mood, and a buoyant greenback.AUD/USD Price Forecast: Upward biased, though a daily close below 0.7500 would mean the pair is correcting lower before resuming the uptrend.fluctuates courtesy of Russia – Ukraine’s woes, China’s Covid-19 outbreak, and higher inflation prompted global central banks to tighten monetary policy conditions. At the time of writing, the AUD/USD is trading at 0.7492.
Risk appetite continues to be influenced by geopolitical jitters and the weekend Covid-19 outbreak in China, which affected Shanghai, one of the largest cities, weighed on market sentiment. Meanwhile, Russia – Ukraine woes keep grabbing the headlines.
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