Home Analysis The AUD/USD collapsed this week to trade at fresh monthly low

The AUD/USD collapsed this week to trade at fresh monthly low

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The AUDUSD collapsed this week to trade at fresh monthly low - forexspacex.com

The AUD/USD exchange rate has fallen hard on Thursday and Friday’s trading session to a fresh monthly low at the 0.72346 mark. All major currencies fell against the US dollar during the course of the session on Friday after the hawkish statement from Fed Chief Jerome Powel. The price fell 1.04% on Thursday and 1.73% on Friday as the Bears managed to get it below the major support level at the 0.7250 mark. The AUD/USD is expected to remain under significant pressure due to the divergence between the monetary policies of the Bank of Australia and the US Federal Reserve. A successful test of the 0.7250 level will push AUD/USD towards the next support level at the 0.7200 mark.

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