AUD/USD Price Forecast: Aims to revisit multi-year high of around 0.7220

Australian Dollar Price Today

The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.05%	-0.12%	-0.06%	-0.11%	-0.16%	-0.37%	-0.09%
EUR	0.05%		-0.07%	0.02%	-0.04%	-0.11%	-0.32%	-0.03%
GBP	0.12%	0.07%		0.09%	0.03%	-0.02%	-0.24%	0.04%
JPY	0.06%	-0.02%	-0.09%		-0.08%	-0.11%	-0.34%	-0.08%
CAD	0.11%	0.04%	-0.03%	0.08%		-0.04%	-0.25%	0.02%
AUD	0.16%	0.11%	0.02%	0.11%	0.04%		-0.22%	0.05%
NZD	0.37%	0.32%	0.24%	0.34%	0.25%	0.22%		0.27%
CHF	0.09%	0.03%	-0.04%	0.08%	-0.02%	-0.05%	-0.27%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).

As of writing, S&P 500 futures trade 0.6% higher at around 7,110, reflecting strong demand for riskier assets. The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades 0.15% lower to near 98.25.

Market sentiment turned risk-on after United States (US) President Donald Trump extended the ceasefire with Iran for an undefined period in a post on Truth Social, before the expiration of the two-week ceasefire on April 22. Trump said that Washington will hold attacks against Iran until it receives a unified proposal.

On the economic data front, investors await preliminary private Purchasing Managers’ Index (PMI) data for April for both the US and Australia, which will be released on Thursday. US S&P Global Composite PMI is estimated to have grown at a faster pace due to higher business activity in both the manufacturing and the services sectors.

AUD/USD technical analysis

AUD/USD trades higher at around 0.7170 during the press time. The price holds a bullish near-term bias as spot remains above the 20-day Exponential Moving Average (EMA) at 0.7081. The pair extends its advance from late-March lows, and the rising EMA suggests underlying demand is cushioning shallow pullbacks.

The Relative Strength Index (RSI) around 63 shows firm but not yet overbought momentum, supporting further upside attempts.

On the downside, initial support is located at the 20-day EMA near 0.7081, where a sustained break would signal fading bullish pressure and open the door to a deeper correction toward the psychological level at 0.7000. As long as buyers defend this moving average on daily closes, the broader constructive structure is likely to persist, leaving the pair biased to probe higher levels even if short-term consolidation phases emerge. Looking up, the pair is expected to extend its recovery move towards the multi-year high of 0.7222.

(The technical analysis of this story was written with the help of an AI tool.)

Risk sentiment FAQs

What do the terms"risk-on" and "risk-off" mean when referring to sentiment in financial markets?

In the world of financial jargon the two widely used terms “risk-on” and “risk off'' refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest.

What are the key assets to track to understand risk sentiment dynamics?

Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit.

Which currencies strengthen when sentiment is "risk-on"?

The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity.

Which currencies strengthen when sentiment is "risk-off"?

The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.

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