AUD/USD Forecast: Ending the day unchanged just below 0.7200
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADEAUD/USD Current Price: 0.7196
- The better performance of equities helped the Aussie to recover part of the ground lost.
- Australian August Commonwealth Bank PMIs to be out this Friday.
- AUD/USD is bullish near 0.7200, needs a little push to reach fresh yearly highs.
The AUD/USD pair got to recover some ground by the end of the day, trimming early losses to settle around 0.7190. The recovery was the result of decreasing dollar’s demand and a late rally in Wall Street, which managed to post modest intraday gains. Gold prices also provided positive clues for Aussie, as the bright metal also got to regain some ground. Australia didn’t publish relevant data but will release the preliminary estimates of the August Commonwealth Bank Services PMI early on Friday.
AUD/USD short-term technical outlook
The AUD/USD pair retains its bearish bias in the short-term, but worth noting it stands not far below its yearly high. The 4-hour chart shows that the 20 SMA remains directionless above the current level, while technical indicators hold within negative levels, with neutral-to-bearish slopes. The pair would need to advance beyond 0.7245 to gain enough bullish traction to move towards 0.7300 and beyond before the week comes to an end.
Support levels: 0.7170 0.7135 0.7090
Resistance levels: 0.7245 0.7280 0.7325
View Live Chart for the AUD/USD
AUD/USD Current Price: 0.7196
- The better performance of equities helped the Aussie to recover part of the ground lost.
- Australian August Commonwealth Bank PMIs to be out this Friday.
- AUD/USD is bullish near 0.7200, needs a little push to reach fresh yearly highs.
The AUD/USD pair got to recover some ground by the end of the day, trimming early losses to settle around 0.7190. The recovery was the result of decreasing dollar’s demand and a late rally in Wall Street, which managed to post modest intraday gains. Gold prices also provided positive clues for Aussie, as the bright metal also got to regain some ground. Australia didn’t publish relevant data but will release the preliminary estimates of the August Commonwealth Bank Services PMI early on Friday.
AUD/USD short-term technical outlook
The AUD/USD pair retains its bearish bias in the short-term, but worth noting it stands not far below its yearly high. The 4-hour chart shows that the 20 SMA remains directionless above the current level, while technical indicators hold within negative levels, with neutral-to-bearish slopes. The pair would need to advance beyond 0.7245 to gain enough bullish traction to move towards 0.7300 and beyond before the week comes to an end.
Support levels: 0.7170 0.7135 0.7090
Resistance levels: 0.7245 0.7280 0.7325
View Live Chart for the AUD/USD
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.