AUDUSD

Written by Nick Zelver

Fact checked by Wikitoro Team

Updated Mar, 2024

Introduction

The Australian Dollar and the US Dollar pair, often referred to as the "Aussie," is a prominent currency pair in the forex market. Accounting for about five percent of the total forex market volume, it's a favored choice among traders. This pair's value is closely linked to commodity prices, reflecting Australia's significant exports of iron ore and coal. The robust economies of both countries add to its appeal. For those interested in trading AUD/USD, eToro offers a user-friendly platform. In this guide, I'll delve into the nuances of trading this pair and share some personal insights that might be helpful.

Trading AUD/USD through CFDs

On eToro, trading the AUD/USD pair involves CFDs (Contracts for Difference), not direct currency exchange. The allure of CFD trading lies in its ability to speculate on forex market movements without owning the actual currencies. It's a flexible and efficient way to engage with the eToro forex market.

Why I Prefer Trading AUD/USD on eToro

Having traded this pair on eToro several times, I've noticed numerous advantages, which include:

• A user-friendly interface that simplifies trading.
• Flexibility to trade according to your schedule.
• Absence of transaction fees on currency trades.
• The use of leverage, allowing traders to open larger positions with a relatively small capital commitment.

These features make eToro an attractive platform for trading the AUD/USD pair. Stay tuned for more detailed insights and tips in this guide.

Exploring the AUD/USD Asset Page on eToro

When you visit the AUD/USD asset page on eToro, you'll land on the Overview section by default. This area provides several key elements to help you understand and analyze the asset:

1. Graph: Displays the asset's performance over time.
2. About: Offers brief information about the AUD/USD pair.
3. Latest News: Presents the most recent news relevant to the pair, sourced from CityFALCON.
4. People Also Bought: Highlights other popular currency pairs that traders are currently investing in.
5. Copy Investors: Lists top-performing traders involved with this currency pair. Clicking the "Copy" button next to a trader's name will direct you to the copy trading window for that individual.
6. Discussions: Here, traders engage in conversations about the AUD/USD pair. You can filter to view top discussions or all discussions and participate by liking, commenting, or sharing posts.

Tools for Trading AUD/USD on eToro

The platform offers several integrated tools that enhance the trading experience:

• Chart: Provides a live chart for AUD/USD, which you can customize to show time gaps from 1 minute to 1 week.
• News and Sentiment Trends: Shows the latest news about AUD/USD, powered by CityFALCON, including the mood of the news (positive, negative, or neutral). The Sentiment Trends section quantifies the overall sentiment towards this topic, displaying a 30-day average sentiment and highlighting top stories for each day.

How to Trade AUD/USD on eToro

To trade the AUD/USD pair on eToro:

1. Search for the underlying asset.
2. Choose to "BUY" or "SELL".
3. Input your investment amount.
4. Set your trading preferences.
5. Execute the trade.

Conclusion

That concludes our guide to trading the AUD/USD pair on eToro's web platform and mobile app. Keep these insights and tips in mind as you embark on your forex trading journey. Happy trading!

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment, and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.