• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
Advertisement
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

Where Is The AUD Headed?

July 25, 2017
in Expert Advice, Market Commentary, Most Popular
Reading Time: 2 mins read
A A
0
Where Is The AUD Headed?
0
SHARES
12
VIEWS
ShareShareShareShareShare

Whether you’re a currency trader, an importer, exporter, or just someone booking an overseas holiday, the movements of the Australian dollar (AUD) can mean that you stand to make hundreds or even thousands of dollars, if you keep your eye on where it’s headed.

We all saw the AUD trade to parity with the US dollar (USD) in 2011 and you may have watched in horror as it fell dramatically a couple of years later, as suddenly your purchasing power for imported goods and overseas travel went up in smoke.

Back then, the Reserve Bank Board called for it to fall to $0.80. You may have even agreed that the dollar was too high and needed to come back. But like most Australians, you probably weren’t expecting it to fall as far as it did.

At the time I shared my analysis, which indicated that our dollar may fall to between $0.70 and $0.74 in 2015. The dollar fell to $0.80 in January 2015 and continued to fall to around $0.68 by January 2016 before recovering. These were levels not seen since 2009.

Since then, the AUD has traded sideways below resistance at around $0.78 and has been relatively stable, however, this has changed with a strong rise this month to just below $0.80. My current analysis indicates that probability is high for the AUD to trade through $0.815 in the next couple of months, with the potential to achieve between $0.830 and $0.855, provided it remains above $0.78.

Remember, reading about what has already occurred won’t make you money, but learning how to read a price chart, which shows you what’s most likely to occur in future, will.

What do we expect in the market?

This week the Australian share market started the week on a low, closing at 5738 points on Tuesday, before it reversed direction to trade back above 5800 points on Thursday. This simply means that the market still hasn’t confirmed whether it will rise or fall over the coming months and therefore investors need to be patient while we wait for confirmation of a rise above 5830 points.

The reason the Australian market has been quite erratic recently is because it isn’t trading in a bear or boom phase, instead it’s in a transition period, where sentiment can quickly switch from negative to positive.

Dale Gillham Chief Analyst at Wealth Within

 

 

ShareTweetSendPinShare
Previous Post

Trader’s Story- Meet Sharon Gleeson

Next Post

Eight of the biggest challenges traders face

Related Posts

Top Five Tech Billionaires Worth $567B, more than 80 Poorest Countries Combined
Feature

Top Five Tech Billionaires Worth $567B, more than 80 Poorest Countries Combined

June 29, 2021
23
Trillion Dollar Bitcoin Market-Cap is just the Beginning
Expert Advice

Trillion Dollar Bitcoin Market-Cap is just the Beginning

December 2, 2020
119
Federal Budget: What Every Trader  Needs To Know
Feature

Federal Budget: What Every Trader Needs To Know

October 22, 2020
30
The Collapse of the Australian Economy
Expert Advice

The Collapse of the Australian Economy

September 29, 2020
164
10 Productivity Tips For Traders And Investors During Lockdown
Blog

10 Productivity Tips For Traders And Investors During Lockdown

September 29, 2020
140
Next Post

Eight of the biggest challenges traders face

Please login to join discussion

Recommended

Top 5 Most Promising Altcoins in 2023 According to Reddit

Top 5 Most Promising Altcoins in 2023 According to Reddit

January 24, 2023
5
‘The tweets are truthful:’ Elon Musk takes witness stand to defend 2018 Tesla tweet

‘The tweets are truthful:’ Elon Musk takes witness stand to defend 2018 Tesla tweet

January 21, 2023
5
Cameron Winklevoss Ready to Take Legal Action Against DCG’s Barry Silbert

Cameron Winklevoss Ready to Take Legal Action Against DCG’s Barry Silbert

January 20, 2023
4
LBank CEO Shares Excitement over Metaverse’s Potential to Become a Mulitrillion Industry by 2030

LBank CEO Shares Excitement over Metaverse’s Potential to Become a Mulitrillion Industry by 2030

January 17, 2023
3
3 things Elon Musk can do to get Tesla stock back on track

3 things Elon Musk can do to get Tesla stock back on track

December 30, 2022
7
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • FBI Announces Takedown of Hive Ransomware Network
  • NFT Collection Gangster All Star Evolution Price, Stats, and Revi…
  • Shopify Stock Is up Over 40% This Year. How Much Higher Can It Go?

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?