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The trend was not a friend to Aussie bulls this week as geopolitical concerns, dovish RBA commentary and negative Australian business sentiment updates had sellers out in force and making moves.

Overlay of AUD Pairs: 1-Hour Forex Chart
Overlay of AUD Pairs: 1-Hour Forex Chart

Australia Headlines and Economic data

Tuesday:

Wednesday:

Thursday:

Friday: 

  • Geopolitical concerns rose and drove traders out of high-yielders on the session like the Australian dollar, this time possibly on reports of Iran test-firing a medium-range ballistic missile, adding fuel to the already tense situation between the U.S. and Iran