AUD/USD Current price: 0.7537
The AUD/USD pair gave back some of its latest gains ending the day lower in the 0.7530 region. Data coming from Australia showed that consumer confidence advanced in January, as the Westpac index came in at 97.4 from previous 97.4. During the upcoming Asian session, the country will release its December employment figures, expected to have added 10.0K new jobs in the month, and the unemployment rate steady at 5.7%. The pair is developing within a strong ascendant channel ever since the month started, with the base of the figure for this Thursday around 0.7500, which means intraday declines towards the level will hardly affect the dominant trend. Below it, however, the pair can quickly fall down to 0.7450, a major long term static support. Technically, the 4 hours chart shows that the price remains above a bullish 20 SMA, whilst technical indicators are correcting modestly from overbought readings, still well above their mid-lines but gaining downward strength. If the employment report comes better-than-expected, the pair will likely extend its advance beyond the weekly high of 0.7568, with scope then to approach the 0.7700 region.
Support levels: 0.7500 0.7450 0.7415
Resistance levels: 0.7565 0.7600 0.7640
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
EUR/USD manages to hold above 200-hour SMA ahead of Eurozone CPI, FOMC
EUR/USD meets with some supply during the Asian session on Tuesday and erodes a part of the previous day's gains amid the emergence of fresh US Dollar buying. Spot prices, however, remain in a familiar range held over the past week or so and currently trade around the 1.0700 round-figure mark.
GBP/USD consolidates its gains above 1.2550, investors await Fed rate decision
GBP/USD consolidates its gains near 1.2560 after flirting with the key 200-day SMA and three-week highs in the 1.2550-1.2560 zone during the early Tuesday. Investors reduce their bets on BoE rate cuts, which support the Cable.
Gold price traders remain on the sidelines ahead of FOMC decision on Wednesday
Gold price remains confined in a narrow range as traders prefer to wait on the sidelines. Reduced Fed rate cut bets revive the USD demand and act as a headwind for the metal. Investors now await the FOMC decision and US macro data before placing directional bets.
BNB price risks a 10% drop as Binance founder and ex-CEO Changpeng Zhao eyes Tuesday sentencing
Binance Coin price is dumping, with the one-day chart showing a defined downtrend. While the broader market continues to bleed, things could get worse for BNB price ahead of Binance executive Changpeng Zhao sentencing on Tuesday, April 30.
FX market still on intervention watch
Asian foreign exchange traders will be particularly attentive to any signs of Japanese intervention on Tuesday, following reports of Tokyo's involvement in the market on Monday. This intervention action propelled the yen upward from its 34-year low of 160 per dollar, setting off shockwaves of volatility.