AUD USD exchange rate simply refers to the amount of money in one currency (AUD) that needs to be foregone in order to purchase or obtain its equivalent value in another currency (USD). The AUD USD exchange rate gives the forex traders the ability to know how much they are to give up if they want to exchange one AUD for USD. The exchange rate is used to study the past, present and future behavior of a currency pair in the forex market. AUD to USD exchange rate refers to the study of the exchange rate values of the currency pairs in order to forecast the market value and future behavior of the currency in the market.
MERITS OF AUD USD EXCHANGE RATE TO TRADERS
AUD USD exchange rate has the following advantages to the trader and the market
1. MAKET PREDICTION
The AUD USD exchange rate table provides the trader with an avenue to be able to clearly predict from experience the outcome of trading in the currency pairs in the market at the given time. The AUD USD exchange rate will reveal if the trade will at the end of the day be fruitful or not.
2. PROVISION OF INFORMATION
The major aim behind the AUD USD 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. A HANDY TOOL IN PLANNING
The forex market is all about taking calculated risks. With the AUD USD 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.
At the time of writing this, the exchange rate of the AUD to USD was at 1AUD per 0.7667291 USD with an inverse value of 1.30406. Research has however revealed that the most traded AUD currency pair is the USD AUD.
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