Analysis and forecasts
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Chart analysis
The chart of exchange rates between the US Dollar and the Australian Dollar shows an upward trend in the short term. The exchange rate rose from 1.589 to 1.613 during the period shown in the graph. The chart also shows support at 1,600, and resistance at 1,620.
Expectations
In the short term, the market trend is expected to continue to the upside, with a possible breach of the resistance level at 1,620. In the long term, it is difficult to determine the market direction with certainty, as it depends on many factors, such as the monetary policy of the Federal Reserve and the Australian Central Bank, and global economic conditions.
Influencing factors
* Monetary policy of the Federal Reserve and the Australian Central Bank: A hike in interest rates by the Federal Reserve is expected to strengthen the US dollar, while a hike in interest rates by the Australian Central Bank may strengthen the Australian dollar.
* Global economic conditions: Global economic events, such as wars or financial crises, may lead to fluctuations in exchange rates.
comments
*This analysis is merely an opinion and not investment advice.
*Investors should conduct their own research before making any investment decisions.