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AUDUSD Tradingview Chart

Why trade AUD/USD?

The Australian dollar is a popular currency that is paired with the US dollar. The pairing accounts for about 5% of all trading in the world. Day traders can experience high levels of volume and volatility because there are different interest rates in each country.

In this market, the Australian dollar is the base currency. The US dollar is called "the quote currency." This means that in any time, one Australian dollar will buy you one US dollar.

The AUD/USD pair is a way to trade the Aussie dollar and US dollar. It is popular right now because there was a boom in Australia after 2000. You can trade these two currencies together or you can trade one of them with a contract for difference (CFD) and try to guess how much they will change in price.

You can trade the AUD/USD currency pair by using CFDs. You can buy or sell CFDs. If you think that the Australian dollar will gain value, then you would buy CFDs. If you think it will lose value, then you would sell them.

  • Many traders like the long-lasting volatility of the AUD USD. The pair is one of few that give you volatility for all trading sessions. The Asian trading session is low-volatile, but when the AUD USD starts to move, it stays moving during other sessions.
  • The AUDUSD currency pair is related to gold and the NZDUSD currency pair. It is also related to the USD CAD currency pair. A positive correlation means they are likely to move in the same direction, while a negative correlation means that they will be moving in opposite directions.

Currency Correlations

The Australian dollar is connected to currencies that are based on commodities. The most obvious one would be the New Zealand dollar. They both have economies that are very similar and sensitive to Asia.

New Zealand has many soft commodities, like agricultural products. Australia also has commodities like iron and copper. As more people buy things in general, both of these countries will do well.

Over the long-term, both the Australian dollar and New Zealand dollar should move in the same direction as the US dollar. This is because they are both currencies in countries that have a lot of natural resources. Some currencies in other countries are also correlated to these two, but they are not as influential.

The AUDUSD changes depending on a number of economic factors.

  • The Consumer Price Index (CPI) is an indicator in the United States that measures how much prices are changing. The more inflation there is, the better for the currency. If CPI in the United States goes up, it usually means higher rates are coming. If CPI in America is high, it typically means good things for the US dollar.
  • The Purchasing Managers Index is an indicator that tells how businesses are doing. When they're not doing well, they won't buy more materials. The higher the index in China, the better off the Australian dollar will do.
  • People who trade currency look at meeting minutes from central banks. The more aggressive they seem about raising interest rates, the better it is for that currency.
  • The CPI and other inflation rates are important for the Aussie dollar. If they are high, then the Australian dollar is better.
  • Import figures in China tell you if the Chinese economy is growing, so it helps us to know whether or not the demand for building materials and manufacturing goods is going to go up. This means that the more imports there are, the more likely it is that we'll see an increase in demand for Australian dollars.
  • The dollar is better when the US has a high Gross Domestic Product.
  • Chinese GDP figures will greatly influence Australia, because China of course is its biggest customer. Much like a large corporation, the better that the customer is doing, the more Australia will do in commodity sales. Obviously, a stronger number will be good for Australia, even though it is Chinese based.
  • Australian housing data is a sign of how the economy is doing. If the housing market is doing well, then it is most likely that the economy will be doing well too. That will also help to increase the value of Australia's currency.

Role of the US dollar

A global currency is a money that people will accept. Some currencies are accepted all over the world. These include the U.S. dollar, the euro, and the yen. A reserve currency is another name for a global one.

The U.S. dollar is the most popular currency in the world. It is bigger than any other country's currency, and it makes up over 60% of all known central bank foreign exchange reserves, even though it doesn't hold an official title.

In the foreign exchange market, the dollar is important. When people trade, most of them are trading U.S. dollars. There are 185 different currencies according to the International Standards Organization List, but most of these currencies are only used inside their own country instead of being used for trading with other countries.

Governments are willing to hold the dollar in their foreign exchange reserves because it is strong. Governments get dollars when they do international transactions. They also get them when people bring dollars back to the country and exchange them for local money.

Role of the Aussie Dollar

Australia is a country with a lot of industry. Mining and exporting goods are important parts of the Australian economy. The things that Australia exports include iron ore, coal, and education (which might seem weird but it's true). Agriculture is also an important part of the Australian economy because it exports food like wheat and beef to make money.

Australia’s economy is strong because it trades with countries that have money. These places are China, Japan and other countries that are doing well.

The interest rates in Australia are higher than those in other countries. This is because the Royal Bank of Australia (Australia's governing financial institution) wants to stop inflation as much as possible.

These factors all add up to making Australia's economy stronger than other countries around the world.

AUD/USD Trading Checklist

  • Start your day with a rundown of economic news
  • Check the current Australian dollar price
  • Check in on commodity prices
  • Analyse short and long-term trends

How to trade AUDUSD on TradingView

1. Load AUDUSD Global Prime Symbol

2. Locate Global Prime under brokers section

3. Click Connect and follow login prompt

4. Enter your Global Prime TraderEvolution details

5. Place your AUDUSD Trade via TradingView

Benefits & Risks Trading AUDUSD

Benefits of trading AUDUSD

  • Liked by forex traders for its liquidity, relatively attractive spreads and link to global economic trends
  • Often reacts swiftly to economic data and central bank policies
  • AUD/USD is perceived as a risk-linked, or growth-linked currency

Risks of trading AUDUSD

  • A favorite risk proxy, the Aussie dollar has the potential to be jerked around by macro events
  • Taunted by the ongoing trade spat between the U.S. and China
  • Australia's currency is counter-cyclical and volatile in nature


What is the AUD/USD Currency Pair?

AUD/USD (sometimes written AUDUSD) is the abbreviation for the Australian dollar and U.S. dollar currency pair or cross. The AUD/USD is the fourth most traded currency but is not one of the six currencies that make up the U.S. dollar index (USDX).

The AUD/USD is a currency that trades in the market. It helps you trade in Asia while also dealing with a western-based financial system. It is highly liquid and there's little risk of central bank intervention. You can enter the AUD/USD if you want to take on a position based on fundamental factors.

Your AUDUSD questions, answered.

When can you trade AUDUSD? Right Arrow

Based on Australian Eastern Standard Time, forex market hours are Sydney, 7:00am – 4:00pm AEST; at 9:00am the Tokyo (Japan) market comes online and before it closes, the London market comes online at 5:00pm; New York opens at 10:00pm and closes at 7:00am when the Sydney (and New Zealand) Forex market opens again.

Should I trade AUDUSD? Right Arrow

Its popularity among traders is due to various factors related to geology, geography, and government policy. For example, if the pair is trading at 0.75 it means that it takes 0.75 U.S. dollars to buy 1 Australian dollar. The AUD/USD is one of the world's top-traded currency pairs.

What platforms can I use to trade AUDUSD? Right Arrow

We offer the following trading platforms - MetaTrader 4, TraderEvolution and FIX API.

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