Australian Dollar Forecast

JP Morgan backs a rise in the Australian Dollar over coming months, saying the country's record breaking trade surpluses will provide a fundamental source of support.

AUD is underperforming its G10 peers at the start of the new week following the release of disappointing data from China, but it nevertheless looks well supported against the British Pound having broken out of a long-held range on Friday.

GBP/AUD recovering from bottom of range, reaffirming downside support levels

GBP/AUD has appreciated 1.86% over the past month and could test 1.79 says CBA.

The Australian Dollar was among the top performing major currencies in the final session of the week but it was also close to the bottom of the barrel for the period overall and may be at risk of further losses that could see AUD/USD slipping back below 0.70, according to strategists at Westpac. 

The Australian and New Zealand Dollars led a major currency rebound early in the midweek session but remained underperformers for the month to early May and Commonwealth Bank of Australia has warned that recent losses could yet extend further and by up to five cents in both cases.

Bank of America have looked at the data and it would seem selling the Canadian Dollar and Australian Dollar on a Friday is offering consistent returns.

The Australian Dollar will struggle to push GBP/AUD below the floor at 1.72 if the expectations at a major European lender and financial services provider prove correct.

The Australian Dollar is likely to outperform Pound Sterling during the weeks and months ahead according to Commonwealth Bank of Australia (CBA) research, with elevated commodity prices and shifting central bank policies conspiring to drive GBP/AUD down to 1.66 this quarter.

The Australian Dollar is 2022's top performing major and any bouts of weakness - as seen in the past week - are likely to be short-lived says a major Australian lender.

GBP/AUD approaches lowest in two years as AUD maintains best performer status.

Any weakness in the Australian Dollar is being viewed by strategists at Westpac as an opportunity to buy, a view which if correct would mean Pound-Australian Dollar exchange rate upside will remain limited near-term.

GBP/AUD drawing line under steep sell-off, may be set to hold above 1.7950 this week.

GBP/AUD looking for a foothold near 1.8350, could steady as market wavers on RBA view.

GBP/AUD set to extend & could top 1.9607, with GBP set to outperform lethargic AUD.

GBP/AUD recovery places 22-month highs in sight, supported at 1.8805, could retest 1.92 short-term.

GBP/AUD uptrend intact as AUD slumps on surging volatility. Eyes on a rebound of oversold markets.

GBP/AUD risks slippage near to 1.8815, may struggle above 1.90 in short-term.

"The AUD can be expected to find support on stronger than expected wage related data" - Jane Foley, Rabobank.

GBP/AUD building support at 1.84 and could edge higherccas AUD/USD stalls & looks to consolidate into new year.