The Australian Dollar has a wide range of alternatives within the AUDUSD and the EURUSD pair. They are the two currencies that the Australian dollar trades with the most at present. But, since they are closely related and usually have very similar values then it is difficult to choose the best option for you.
There are actually two different exchanges that will be used for you to do your trading at: the local one or the foreign one. The first one is used for most of the transactions between Australia and other countries like China, USA and so on.
The second exchange rate is used for many local trades because most of the business transactions are done through local banks. This means that it is not feasible to have to travel to the bank for your transactions.
But, these days, with the advent of globalisation, it is just too expensive to have to use the local banks to do international business. There are better alternatives and these are the option of trading using the internet.
The two currencies trade against each other on a daily basis but the Eurodollar exchange rate is the more attractive to both of them. This is because the Eurodollar is much higher than the AUDUSD and it also has a wider variety of alternative.
One of the options of the Eurodollar is the USDJPY which is the currency of Japan. This is one of the few Asian currencies that are higher than the AUDUSD and is only traded in Japanese yen.
The Eurodollar is also traded on the same day as the AUDUSD and there are always a large number of changes that occur in it. This means that any buying and selling of the AUDUSD or Eurodollar will always be more reliable and more transparent than the rest of the two currencies.
And as well as this, there is also a large change in the price of the AUDUSD as there are no large changes in the price of the Eurodollar. This is why this is a better choice for most of the traders that trade internationally.
Although, the USDCAD is the main exchange that is used on a daily basis, this is a volatile market and it is only possible to trade the USDUSD or Eurodollar if the price changes between you and the other trader. There are some exchanges that only allow the USDUSD or Eurodollar to be traded, but they are not reliable since it is a very volatile market.
The advantage of the AUDUSD and the Eurodollar is that it gives you a wider variety of choice. There are now many trades that are done using the AUDUSD and some of the markets that have recently become more reliable are those from the EURUSD.
The importance of knowing about the AUDUSD and the Eurodollar can be assessed by looking at the price of the AUDUSD and the EURUSD in a year's time. These are generally done by a number of trading pairs such as the AUDUSD and the USDJPY and the AUDUSD and the EURUSD.