What does AUD/USD mean?

The result is a price corridor, usually enveloping the weekly close price from above and below, and serves as a measure of volatility. The AUD/USD pair tells the trader how many US dollars (the quote currency) are needed to purchase one Australian dollar (the base currency). This currency pair is also known as the "Aussie".

Why did AUD/USD fall to 0.6400?

AUD/USD falls to near 0.6400 as the appeal for the US Dollar improves. The US Dollar strengthens ahead of Powell’s speech. RBA Bullock kept hopes of further rate-tightening alive, citing that the progress in inflation declining to 2% has slowed.

Will AUD/NZD rise in value in 2022?

However, Citibank expects the aussie to fall against the US Dollar to 0.71 over the coming 6 -12 months. Westpac forecast that AUD/NZD will stay at approximately the same level that it is now, across 2022. Analysts at NAB predict that the Australian Dollar will rise in value against the New Zealand Dollar, reaching 1.08 by the end of 2022.

What's going on with AUDUSD in 2023?

Don't miss our 2023 AUDUSD forecast! The Australian Dollar is facing headwinds yet again against the US Dollar, as the central bank divergence theme is back in play in early 2023.