The AUD's Decline Temporarily Halts – Overview for August 18, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_3-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p>The rapid descent of <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> has temporarily subsided.</p>

<p>The Australian dollar, in tandem with the US dollar, has managed to put a temporary hold on its downward <a title="&lt;div class=&quot;wpg-tooltip-content&quot;&gt;&lt;p&gt;Momentum is an indicator of the speed and direction of price change over a specific time frame.&lt;/p&gt;&lt;/div&gt;" href="https://blog.roboforex.com/glossary-terms/momentum/">momentum</a>, though it remains in a vulnerable state. The current exchange rate for AUD/USD rests at 0.6398.</p>

<p>In the previous session, the AUD hit its lowest point in a span of 9 months.</p>

<p>This stabilization in AUD sentiment can be attributed in part to actions undertaken by the People's Bank of China. In a recent move, the regulator intervened by purchasing yuan in the currency market, which served to alleviate some of the prevailing market tensions. This stabilization of the yuan has also had a positive ripple effect on other Asian currencies.</p>

<p>As of the present morning, reports indicate that Chinese authorities have directed state-owned banks to persist with currency interventions, and the necessary resources for this purpose have been allocated. The outcomes of these measures are anticipated to manifest in the days ahead.</p>

<p>The AUD's exchange rate remains highly sensitive to shifts in China's economic and financial landscape, given China's position as Australia's primary trade and economic <a href="https://blog.roboforex.com/blog/2021/07/30/how-to-become-a-successful-partner-of-a-forex-broker/" data-internallinksmanager029f6b8e52c="194" title="Partner">partner</a>.</p>

<p>Additionally, domestic factors are exerting notable pressure on the AUD's exchange rate. Foremost among these is the Reserve Bank of Australia's decision to maintain its current stance on interest rates.</p>

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