After six days of declines, Aussie-Dollar is up 8 pips today

Published: May 26 2023, 21:36 GMT+0

After six days of declines, Aussie-Dollar is up 8 pips today

After closing at 0.6511 yesterday, AUD/USD began today at 0.6511 with significant bullish sentiment driving AUD/USD's price action higher. So far today, price action has drawn out a distinct 0.6493 to 0.6545 range.

This move comes while some more positive signs for Aussie-Dollar are out as United States Core Durable Goods Orders published today at 12:30 UTC came out at -0.2%, falling short of the 0% projections and continuing its decline from the previous 0.3% figure.

On the flip side, highly important Retail Sales data from Australia beat analyst expectations of 0.3% with a reading of 0%.

At the same time, Australia CFTC AUD speculative net positions released today at 20:30 UTC with a figure of -49,100, while the previous figure was -53,600.

Other currencies are also rising as GBP/JPY added 0.66% to its value, now trading at 173.67. GBP/NZD is up 0.47%. USD/JPY added 0.41% to its value, now trading at 140.62.

Aussie-Dollar is now trading 11.49% away from its significant high of 0.7356 first tested 7 months ago.

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