AUD/USD Forecast: Pressuring the lower end of the range, bearish
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 Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFERAUD/USD Current Price: 0.7708
- Gold prices dipped to fresh 2-month lows, trimmed losses ahead of the close.
- The Reserve Bank of Australia will release the Minutes of its latest meeting.
- AUD/USD is technically bearish in the near-term, stuck around 0.7700.
The AUD/USD pair is hovering a few pips above the 0.7700 level, unchanged from Friday’s close. Australia kick-started the week with a holiday, which means there were no macroeconomic data releases. The pair advanced modestly, peaking at 0.7725, but the sour tone of US equities limited the advance.
On Tuesday, the RBA will release the Minutes of its latest meeting, while the Australian macroeconomic calendar includes the Q1 House Price Index. Meanwhile, gold edged lower, bottoming for the day at $1,844.34, its lowest in two months, weighing on the aussie’s demand.
AUD/USD short-term technical outlook
The AUD/USD pair is bearish according to intraday technical readings. The 4-hour chart shows that the pair held below all of its moving averages, with the 20 SMA gaining bearish strength below the longer ones. Technical indicators retreated from near their midlines, heading south within negative levels. The bearish case will be firmer on a break below 0.7675, the immediate support level.
Support levels: 0.7675 0.7640 0.7605
Resistance levels: 0.7730 0.7780 0.7820
AUD/USD Current Price: 0.7708
- Gold prices dipped to fresh 2-month lows, trimmed losses ahead of the close.
- The Reserve Bank of Australia will release the Minutes of its latest meeting.
- AUD/USD is technically bearish in the near-term, stuck around 0.7700.
The AUD/USD pair is hovering a few pips above the 0.7700 level, unchanged from Friday’s close. Australia kick-started the week with a holiday, which means there were no macroeconomic data releases. The pair advanced modestly, peaking at 0.7725, but the sour tone of US equities limited the advance.
On Tuesday, the RBA will release the Minutes of its latest meeting, while the Australian macroeconomic calendar includes the Q1 House Price Index. Meanwhile, gold edged lower, bottoming for the day at $1,844.34, its lowest in two months, weighing on the aussie’s demand.
AUD/USD short-term technical outlook
The AUD/USD pair is bearish according to intraday technical readings. The 4-hour chart shows that the pair held below all of its moving averages, with the 20 SMA gaining bearish strength below the longer ones. Technical indicators retreated from near their midlines, heading south within negative levels. The bearish case will be firmer on a break below 0.7675, the immediate support level.
Support levels: 0.7675 0.7640 0.7605
Resistance levels: 0.7730 0.7780 0.7820
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.