​Risk-on Tilt May Fuel Bullish AUD Again

WikiFX News (18 Aug)- The Australian Dollar is advancing to open this week, showing strong momentum especially against USD and NZD but trading stable against JPY. The Australian Dollar may rise on the AUD bulls amid strong risk appetite.

AUD/USD: Further declines in readings of expected market volatility might put premium on AUD and send AUD/USD, AUD/NZD and AUD/JPY higher. Among them, AUD/USD could soon climb to 2019 highs around the 0.7265.

AUD/NZD: AUD/USD has increased for five straight weeks. The diverging monetary policy guidance recently provided by the Reserve Bank of Australia and the Reserve Bank of New Zealand may catalyze further gains in AUD/NZD.

AUD/JPY: But strong AUD encountered setbacks against JPY. Although JPY staged an overall rally on Monday, AUD/JPY maintained its 8-day moving average and may be gearing up for another attempt at the 77.00 handle.

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(Comparison chart: Australian Dollar Price & VIX Index)