AUD/USD Price Forecast: Eyes fresh upside move above 0.7150 on hawkish RBA bets
AUD/USD drops on Iran conflict rhetoric and firm US data
AUD/USD Price Forecast: Finds cushion near 20-day EMA amid US-Iran war-led correction
The AUD/USD exchange rate was highly volatile on Monday morning as market participants reacted to the ongoing developments in the Middle East, where the war between Iran and the US and Iran escalated. The pair was trading at 0.7050.
Australian Dollar fills weekly bearish gap against retreating USD; AUD/USD retakes 0.7100
Markets and risk appetite are likely to remain on edge following a major weekend escalation in the Middle East. The U.S. and Israel launched coordinated strikes against Iran, reportedly killing its Supreme Leader and several senior officials — a development that materially raises uncertainty around regional stability, oil markets and broader risk sentiment.
The impact of full-scale war involving Iran will be the dominant theme as market open following the surprisingly early opening of hostilities by Israel and the USA, with the semi-closure of Hormuz and increased OPEC production key factors.