AUD USD exchange rate average refers to the sum total of all exchange rates in a month divided by the total number of days in the month. The AUD USD exchange rate average just like the exchange rate is displayed or calculated in currency pairs and is published for the use of any interested trader. The AUD USD exchange rate average gives the forex traders the ability to know how well their favorite currency pair has fared over the month and to know how many percent increase or decrease must have occurred in the exchange rate of the currency pair (i.e. AUD USD). The average exchange rate is used to study the past, present and future behavior of a currency pair in the forex market.
AUD USD EXCHANGE RATE AVERAGE FOR 2017
The table below shows the AUD USD exchange rate average for 2017. A critical look at the table reveals that there was a slight increase in the AUD USD exchange rate between January to March and then it depreciated from April to May. The highest AUD USD exchange rate average was recorded in September. The lowest AUD USD exchange rate average was recorded in May.
Month AUD USD EXCHANGE RATE AVERAGE
ADVANTAGES OF AUD USD EXCHANGE RATE AVERAGE
The AUD USD exchange rate average has the following advantages.
1. PREDICTION OF TRADE OUTCOME
Just like the exchange rate table and values, the average exchange rate gives the trader a general overview of what the exchange rate throughout the month looks like. With this, we can easily predict the outcome of trading in the currency pair. A look at the average table shows that the exchange rate is decreasing at the moment which will not be a good indication for trading.
2. PROVISION OF INFORMATION
The major aim behind the AUD USD average exchange rate is to serve as a source of information about the nature and behavior of the currency pair in the market. It gives the trader an insight into how the currency pair is faring at the moment in the local or international forex market.
3. IT IS USED IN PLANNING
The forex market is all about taking calculated risks. With the AUD USD average exchange rate, the trader can be able to sit and plan on the best way and time to invest into the market in order to obtain maximum profit.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.