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AUDNZD
AUDNZD possibly buy to day..
1.12858 to 1.13312
- AUD/USD is liked by forex traders for its liquidity, relatively attractive spreads and link to global economic trends
- AUD/USD often reacts swiftly to economic data and central bank policies, offering numerous trading opportunities
- Key fundamental and technical analysis perspectives are explained, followed by advanced tips for AUD/USD trading
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WHAT IS AUD/USD – AN INTRODUCTION
AUD/USD is the abbreviation for the Australian Dollar / currency pair. It measures how much US Dollars are needed to purchase one unit of the Australian Dollar. In this case the Australian Dollar (AUD) is the base currency and the US Dollar (USD) is the quote (or “counter”) currency. AUD/USD is one of the most widely traded currency pairs in forex trading and is usually linked to commodity prices and market risk sentiment.
WHY TRADE AUD/USD?
The Australian Dollar is the fifth-most traded currency in the global foreign exchange market, accounting for 6.8% of the world’s forex turnover in 2019, according to the Bank of International Settlement (BIS). The institution compiles statistics in cooperation with central banks and is a good resource to gauge the size of the global forex market. However, it is important to note that non-institutional, or retail and/or individual investors, do not engage in trading directly in the interbank market.
AUD/USD is perceived as a risk-linked, or growth-linked currency. Like the AUD can be very sensitive to the movement of commodity prices due to Australia’s large raw materials exports. Here are the main advantages of trading AUD/USD:
Liquidity
- AUD/USD is very liquid as it is one of the most traded currencies in the world. High liquidity allows ease of trade, less slippage, lower costs, and deeper market depth that buffers against external shocks. is an important consideration for forex traders as it measures the ability of a currency pair to be traded on demand and move without large price variances when bought/sold in significant sizes.
Tight spreads
- As a widely traded currency pair, AUD/USD can have relatively narrow spread for retail traders. This can reduce the overall cost of trading, which is often an important consideration when choosing a currency pair.
24-hour trading
- AUD/USD is tradable 24 hours per day from Monday to Friday, offering seamless trading experience and typically easy entry and exit conditions.
TRADING AUD/USD USING FUNDAMENTAL ANALYSIS
Risk- and commodity-linked currency
- The Australian Dollar is a major risk-linked currency, meaning that it is very sensitive to overall trends in market sentiment. AUD/USD tends to move upwards in favorable market conditions and decline in the face of broad-based market headwinds.
- The price of Australia’s main commodity exports – iron ore,, coal, - may also influence AUD/USD. Studying these correlations and understanding the fundamental metrics behind the currency pair could improve traders’ performance.
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