AUD/USD Current Price: 0.6987

The Antipodeans outperformed on Wednesday, with the New Zealand dollar leading after the RBNZ left rates unchanged. The AUD/SUD resumed the upside and posted the biggest daily close since June 7. The key driver was an improvement in risk sentiment that offset higher US yields and concerns ahead of the G20 summit in Japan with the potential US-China trade deal in focus. The outcome of the meeting is likely to have a significant impact on the pair.

The calendar shows no data from Australia on Thursday while in the US, final Q1 GDP numbers are expected to present a modest revision to the upside. Also, jobless claim and pending home sales for May are due. The bond market will be watched closely by traders to see if the rebound in yields can continue.

The pair has been rising steadily since last week, and a consolidation or a correction is due. The critical resistance at 0.7000 is a candidate for a swing level. If the correction takes place, the essential support is the 20-day SMA at 0.6935/40. While a breakout above 0.7000 will face resistance at 0.7020. A daily close well above 0.7010 could mean the Aussie is ready to rise further, probably to test a downtrend line from November highs that at the moment, stands at 0.7090. Ahead of the Asian session, the pair looks set to continue with the consolidation around 0.6985. The immediate support is 0.6970, below, the very short-term bias would favor more losses.

Support levels: 0.6975 0.6940 0.6900

Resistance levels: 0.6995 0.7025 0.7050

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD consolidating its losses amid Brexit and trade uncertainty

EUR/USD is off the weekly highs but holds onto 1.11 amid uncertainty about the Brexit process and doubts that the US and China can reach a deal. Tension toward the ECB meeting mounts.


GBP/USD attempting to recover after parliament slowed down the Brexit process

GBP/USD is moving up toward 1.29, trying to recover after parliament rejected the fast-track process that PM Johnson wanted for approving his Brexit deal. An extension to Article 50 and elections are on the cards.


USD/JPY struggles below mid-108.00s, over one-week lows

The Greenback held weaker against its Japanese counterpart, with the USD/JPY pair struggling below mid-108.00s, or over one-week lows set earlier this Wednesday.


Cryptocurrencies price prediction: Bitcoin Cash, Ethereum & IOTA

The crypto market is bleeding across the board. Major cryptos like Bitcoin and Ethereum fall overnight while Bitcoin Cash engaged the reverse gear during Wednesday’s European session.

Read more

Gold: Clings to gain near the top end of 2-week old trading range

Gold gained some follow-through traction for the second consecutive session on Wednesday and is currently placed at the top end of a near two-week-old trading range.

Gold News

Forex Majors