The AUD/USD exchange rate retreated during Tuesday's trading session, pulling back from its weekly peak. The currency pair was last seen hovering near 0.6530, registering a daily decline of 0.15%. This marks a consolidation phase after the pair reached a high of 0.6540 on Monday, as overall market sentiment remains cautious and without a clear directional bias.
This pullback occurs despite the release of stronger-than-anticipated Australian economic data, which would typically provide support for the Aussie. The Australian Dollar's losses are primarily attributed to a modest recovery in the US Dollar. The greenback found some footing as political uncertainties in the US showed signs of easing, offering the USD a measure of relief and shifting the dynamic for the major currency pair.
The pair's movement reflects a tug-of-war between domestic strength and external USD influences. Traders are now closely watching key technical levels, with the weekly high at 0.6540 acting as immediate resistance. The market's hesitant tone suggests participants are awaiting further catalysts before committing to a more sustained directional move for the AUD/USD.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-11 18:53
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.