Why is AUD a popular currency in Australia?

AUD/USD is the fourth most actively traded currency pair, representing around 7% of total forex market turnover. Its popularity is due, in part, to Australia’s political and economic stability, as well as the government’s limited interventions in the forex market. Despite this, it isn't one of the six currencies that form the US dollar index (DXY).

Why is AUDUSD so popular?

This pair's popularity soared because traders were attracted to the interest rate differential of the pair. This has waned in recent years due to economic volatility worldwide. AUDUSD Trading Strategy: Technical and Order Flow Analysis !

Will AUDUSD hit 61 8% Fibonacci level again?

Keep a close eye on this; it could play out in either AUDUSD long view - 61,8% Fibonacci AUDUSD has a chance to visit the 61.8% Fibonacci level once again. Additional resistance in that zone is the trend line; the width of the resistance zone is 0.66500-0.67000.

What factors determine the AUD/USD exchange rate?

There are two main factors that determine the AUD/USD exchange rate: The Reserve Bank of Australia and Federal Reserve control the supply of money in the market to keep the economy on track. A dovish policy, also known as expansionary policy, weakens the currency as the monetary supply increases.