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AUD/USD Weekly Analysis: USD Strength and China Woes

AnalyticsTrade Team
AnalyticsTrade Team Last updated on 16 Sep 2023
Category: AUD/USD
AUD/USD Weekly: USD Strength & China Woes

Table of Contents

AUD/USD Weekly Analysis: USD Strength & China Woes

AUD/USD Weekly: USD Strength & China Woes

Main Points:

  • AUD/USD faces a bearish week due to a stronger US dollar driven by Fed rate hike expectations.
  • Weaker economic data from China, Australia’s largest trading partner, adds to the pair’s challenges.
  • Technical analysis indicates a break below the 0.64 support level, potential further decline to 0.62, or a short-term recovery above 0.65.


The AUD/USD pair encountered a bearish week, primarily influenced by the strengthening US dollar, fueled by expectations of a Fed rate hike. Additionally, the pair faced headwinds from disappointing economic data emerging from China, Australia’s largest trading partner.

Fundamental Factors

The AUD/USD pair’s performance is linked to the broader market sentiment surrounding the US dollar and the economic health of China. The weak economic data from China has added to the downward pressure on the pair.

Technical Analysis

From a technical standpoint, the AUD/USD pair breached the significant support level at 0.64, closing near the week’s low, signaling seller dominance. The pair’s potential decline could extend to the 0.62 level, representing the next significant support.

However, a rebound above the 0.65 level could indicate a short-term recovery. In such a scenario, the pair would encounter resistance at the 0.66 level, which was previously a support level.

Comparison Table: AUD/USD vs. USD/AUD

Current Price 0.6350 1.5750
Volatility High High
Market Sentiment Bearish Bullish

Comparing AUD/USD with its inverse pair USD/AUD, we observe bearish market sentiment for AUD/USD, reflecting recent challenges.


In conclusion, the AUD/USD pair confronts a bearish week under the influence of a stronger US dollar and weaker economic data from China. Technical analysis suggests potential support and resistance levels for traders to monitor as the pair navigates these challenges.

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