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Forex

Middle East Tensions Weigh on Aussie Dollar

Guavy AI Editorial Team
Instruments
USD AUD
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The Australian Dollar (AUD) vs US Dollar (USD) exchange rate is currently trading at $0.712, having posted a marginal gain for the session and remaining above its key moving averages.

Rising Middle East tensions have led to an increase in demand for the US Dollar as investors seek safe-haven assets. Market participants are also monitoring upcoming key economic data releases that may influence near-term trading in AUD/USD.

AUD/USD is trading within a defined range of $0.7084 to $0.7156 with a bullish bias, but technical indicators show overbought conditions and a high likelihood of consolidation.

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