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The Australian dollar has pulled back a bit from the 200 day EMA, only to sit on top of the 50 day EMA.
The Australian dollar has fallen rather hard during the trading session on Wednesday and therefore reached towards the 50 day EMA. At this point, we are approaching support.
The Australian dollar has rallied during the course of the trading session on Thursday to go looking above the 0.74 level. At this point, it looks like we are going to challenge the 200 day EMA.
Here, 'worth more' means that its value is greater than tomorrow. A dollar today is worth more than a dollar tomorrow because the dollar can be invested and earn a day's worth of interest, making the total accumulate to a value more than a dollar by tomorrow. Interest can be compared to rent. [2]
A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market.The currency that is used as the reference is called the counter currency, quote currency, or currency [1] and the currency that is quoted in relation is called the base currency or transaction currency.
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
The Australian dollar has tried to break above the 200 day EMA during the trading session on Monday but has pulled back a bit from there to see continued struggles.
The International Monetary Fund in April 2012 predicted that Australia would be the best-performing major advanced economy in the world over the next two years; the Australian Government Department of the Treasury anticipated "forecast growth of 3.0% in 2012 and 3.5% in 2013", [60] the National Australia Bank in April 2012 cut its growth ...