AUD/USD recovery finds resistance around 0.7140 and retreats
|- The pair failed to benefit from USD slide versus the yen and European currencies.
- Key data ahead: Australian employment report.
The recovery of the AUD/USD pair found resistance at the 0.7140 area and pulled back. The pair remains steady, hovering around 0.7130. During the US session bottomed at 0.7122 while it failed to test again 0.7140.
The US Dollar spiked lower against the yen and major European currencies, but AUD/USD held steady, unable to benefit. A retreat from the top in US yields and also in equity prices also took place during the last hour.
Regarding data, the US Richmond Fed Manufacturing Index improved from -8 to -2 in January. In Australia, on Thursday at 00:30 GMT, the employment report is due. An increase of 16.5K in employment is expected.
AUD/USD Key levels to watch
The Aussie remains supported by a weak US dollar but still limited. A break above 0.7140 would open the doors to further gains for the pair. The next resistance is seen at 0.7160 (Jan 22 high). On the flip side, under 0.7120 a test of yesterday’s low at 0.7114 seems likely; below the 0.7100 area would be exposed.
AUD/USD
Overview:
Today Last Price: 0.7133
Today Daily change: 0.0015 pips
Today Daily change %: 0.21%
Today Daily Open: 0.7118
Trends:
Daily SMA20: 0.7121
Daily SMA50: 0.7181
Daily SMA100: 0.7171
Daily SMA200: 0.7311
Levels:
Previous Daily High: 0.7162
Previous Daily Low: 0.7115
Previous Weekly High: 0.7226
Previous Weekly Low: 0.7146
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Daily Fibonacci 38.2%: 0.7133
Daily Fibonacci 61.8%: 0.7144
Daily Pivot Point S1: 0.7102
Daily Pivot Point S2: 0.7085
Daily Pivot Point S3: 0.7055
Daily Pivot Point R1: 0.7149
Daily Pivot Point R2: 0.7179
Daily Pivot Point R3: 0.7196
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