The Australian dollar (AUD) is experiencing cautious movement against the US dollar (USD), despite the Reserve Bank of Australia's (RBA) decision to hold interest rates and maintain a hawkish stance. The AUD/USD pair is nearing the resistance line of an ascending triangle, suggesting a potential breakout. This cautious behavior comes as the AUD benefits from its role as a proxy currency for Chinese trade and commodities. Additionally, the AUD and NZD are reaching new highs, while the USDCAD remains confined.
The AUDUSD and NZDUSD are breaking to new highs. The USDCAD remains confined. What next? https://t.co/1voGHwgNhY
AUDUSD is quickly approaching the resistance line of a Ascending Triangle. We expect either a breakout through this ... What's going to happen next? https://t.co/fjdhKttcpn 62% of retail CFD accounts lose money. https://t.co/kPaC92hNDc https://t.co/LtZXXWM7nZ
🇦🇺 What's next for the Aussie dollar? https://t.co/cYRIbQt7cL