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Australian Dollar extends gains due to positive market sentiment

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The Australian Dollar (AUD) extends its gains on Thursday despite the weaker-than-expected Trade Balance and Building Permits data released by the Australian Bureau of Statistics.

The Australian Dollar rises as positive market sentiment favors the risk-sensitive currencies. The Australian Dollar cheered the hawkish sentiment surrounding the RBA despite the weaker Aussie Trade Balance and Building Permits. The US Dollar faced a challenge as Fed Chair Powell dismissed the likelihood of a further rate hike.

On the downside, the AUD/USD pair could potentially move toward the lower boundary of the symmetrical triangle around the nine-day Exponential Moving Average at 0.6509. A break below the latter could exert pressure on the pair to test the rebound support at the 0.6480 level. AUD/USD: Daily Chart Australian Dollar price today The table below shows the percentage change of the Australian Dollar against listed major currencies today. The Australian Dollar was the strongest against the Japanese Yen.

 

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