Is AUD a commodity?

Commonly referred to as the Aussie, the AUD/USD is considered to be a commodity currency pair. Also known as commodity dollars or "comdolls," commodity pairs involve countries that produce, import or export large quantities of raw goods. In the case of the AUD/USD, the commodity that serves as a catalyst for exchange rate valuation is gold.

What's going on with the AUD/USD?

On the daily chart, the AUD/USD continues to move between the 20-day Simple Moving Average (SMA) and the 55-day SMA (0.6505). The 0.6400 level has become a relevant support, and a consolidation below it should bring further weakness to the Aussie, exposing the 20-day SMA at 0.6360.

What is AUD/USD exchange rate?

Most exchange rates are quoted against the US dollar (USD), as it is the most traded currency globally. The AUD/USD exchange rate gives you the amount of US dollars that you will receive for each Australian dollar that you convert (or sell).

Will AUD/USD remain a'sell on rallies' trade in 2023?

Leading momentum indicators retain their hold in the bearish territory, suggesting that the AUD/USD pair is likely to remain a ‘sell on rallies’ trade in the 2023 year ahead. AUD/USD’s recovery from the last quarter of 2022, fuelled by China’s re-opening-led optimism, seems to have lost traction.