AUD/USD Forecast Today 13/05: Gives Up Early Gains (Video)

(MENAFN- Daily Forex) The Aussie dollar initially did try to rally a bit during the trading session on Monday but gave back gains to show signs of capitulation in mind, this is a currency pair that has a lot of ties to China, so it\u0026#39;s interesting to see that the US dollar strengthens quite nicely after the announcement of tariffs being reduced between America and the Chinese. This isn\u0026#39;t necessarily a trade deal, but it\u0026#39;s a pause and a little bit of a ceasefire normal circumstances, you would expect the Australian dollar to skyrocket after that. And it did in the very first part of the day, but we\u0026#39;ve seen a complete turnaround. So, I think at this point in time, markets are starting to come to the conclusion that the United States may be better off with some of the deals that they\u0026#39;re talking about, and China may not. It doesn\u0026#39;t necessarily mean that China will be destroyed and nothing like that. But I do think that leveling out the playing field does help the United States. And I think the markets are starting to say that as well the Breakdown Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: SidebarBrokerListAmount, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, });Breaking down below the 50 day EMA and the 0.6350 level could send the Australian dollar lower. But at the very best I see for the Australian right now dollar right now is that we may see a little bit of sideways action. If that ends up being the case, then fine, whatever we are dancing around the 200 day EMA and that in and of itself makes a certain amount of sense. EURUSD Chart by TradingView But it is worth noting that we\u0026#39;ve seen the US dollar rise quite significantly against multiple currencies around the world. This isn\u0026#39;t just an Australian dollar thing. We\u0026#39;ve seen it against the Canadian dollar, the euro, etc. So, with that being said, I am looking for a shorting opportunity once we break through the next support level.

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