AUDUSD trading on 200 SMA

AUDUSD was up on Friday after testing the low level of 0.6563 in the last trading session as The Australian dollar traded around $0.665 on Friday and was set to gain about 1.5% this week as hawkish signals from the Reserve Bank of Australia and hopes of fresh China stimulus outweighed Donald Trump’s US election victory. On Wednesday, the Aussie had fallen to a three-month low as the US dollar surged, driven by expectations that Trump’s inflationary policies would keep the Federal Reserve from cutting rates further, coupled with concerns that higher tariffs could hurt China’s economy. However, the currency rebounded sharply the following day as the RBA stood out in maintaining a restrictive policy stance.