AUD/USD Current price: 0.7872
- China has a busy calendar ahead with Retail Sales, Industrial Production and FDI data.
- Australia will present its Westpac Consumer Confidence Index for March.
The AUD/USD pair is little changed daily basis in the 0.7870 region, having peaked at 0.7897 during the peak of USD selling in the US afternoon. Nevertheless, selling interest around a major Fibonacci resistance, the 38.2% retracement of the December/January bullish run, rejected the advance, with the Aussie also weighed by the soft tone in equities. There are multiple events ahead coming from Australia, with RBA Assistant Gov. Kent speaking and the Westpac Consumer Confidence Index for March previously at -2.3%., although the AUD will likely be more affected by Chinese data. The country will unveil its January Retail Sales, Industrial Production and FDI figures. Technically the pair is trading at the upper end of the last three weeks' range, and in the 4 hours chart, above a bullish 20 SMA and the 200 EMA, which skews the risk toward the upside, although technical indicators lost upward momentum and turned lower within positive territory while the pair remains unable to surpass the major resistance mentioned above. A clear break above it, however, should see the pair nearing the 0.8000 figure during the upcoming sessions.
Support levels: 0.7820 0.7775 0.7740
Resistance levels: 0.7890 0.7920 0.7955
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.