AUD/USD Price Forecast: 20-day EMA continues to lend support
The Australian Dollar (AUD) trades subduedly at around 0.7025 against the US Dollar (USD) during the European trading session on Friday.
On Friday, the Australian Dollar (AUD) traded near 0.7025 against the US Dollar (USD), sliding as the US Dollar recovered. Financial markets remained cautious ahead of the United States mid-term elections. Commerzbank noted that the US is heading towards a "divided government," with President Trump likely relying on executive orders for his agenda.
Meanwhile, the US economy expanded strongly in the third quarter of 2026, with GDP growing by 3.4%. Private consumption and business investment, particularly in IT, were major contributors. Consumer Price Index (CPI) data for Australia also came in stronger than expected, with month-on-month growth at 0.8% and a 1.3% increase over the July-September period.
The AUD/USD pair held a slight bullish bias, trading above the 20-period exponential moving average at 0.7013. The next hurdle for the pair is the October 29 high of 0.7068.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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