The AUD/USD is a popular currency pair traded in the foreign exchange market. This currency pair specifies how many United States dollars are needed to buy 1 Australian dollar. The AUD/USD often rises and falls with the price of gold.
The Australian dollar is the base currency, with a value of 1, while the value of the US dollar changes. This currency pair is affected by various factors. While the USD is the world's chief reserve asset the Australian dollar serves a much smaller economy, which can create some interesting trading opportunities.