The US dollar’s April reversal continues, helping AUD/USD break ranges to the top side. Australia’s booming economic data helps the bullish case but it may be too soon to count the big dollar out, as reported by Westpac. Australia’s economic data continues to impress “After last week trading the tightest weekly range since November, AUD/USD finally broke out on Wednesday and probably in the ‘right’ direction. A basket of Australia’s key commodity prices has been ticking higher, helping our short-term A$ fair value estimate to a 5-week high around 0.7850 mid-point.” “Australia’s data continues to reinforce the case for upside. NAB March business conditions hit a record high, Westpac April consumer sentiment reached a 10 year high and job creation yet again smashed consensus in March. Hours worked are now above pre-pandemic levels and the 71k jobs gain cut the unemployment rate to 5.6% despite a record high participation rate.” “With global risk appetite resilient and DXY price action unimpressive, AUD/USD should extend gains towards 0.7775, finding buyers around 0.7670/80.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CHF surrenders modest intraday gains, holds comfortably above 0.9200 mark FX Street 2 years The US dollar's April reversal continues, helping AUD/USD break ranges to the top side. Australia's booming economic data helps the bullish case but it may be too soon to count the big dollar out, as reported by Westpac. Australia's economic data continues to impress "After last week trading the tightest weekly range since November, AUD/USD finally broke out on Wednesday and probably in the 'right' direction. A basket of Australia's key commodity prices has been ticking higher, helping our short-term A$ fair value estimate to a 5-week high around 0.7850 mid-point." "Australia's data continues to reinforce the case for upside.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
