AUD/USD Current Price: 0.6863
- Australian Consumer Inflation Expectations eased to 3.1% in September.
- US-China trade war headlines and ECB’s decision kept the Aussie afloat.
- AUD/USD at risk of turning south on a break below 0.6830 support.
The Aussie quietly extended its advance against its American rival, with the AUD/USD pair reaching 0.6894. Nevertheless, the pair retreated to close the day just barely up, and below a major Fibonacci resistance. Data had a modest impact on the pair, as Australia’s consumer inflation expectations, released at the beginning of the day, eased to 3.1% in September, compared to 3.5% in August. The negative effect of the headline was offset by optimism coming from the trade war front, and a rally in equities after the ECB announced a stimulus package. There are no data releases scheduled in Australia this Friday.
AUD/USD short-term technical outlook
The AUD/USD pair has spent most of the day ranging just below the 50% retracement of the July/August decline, still holding above its 20 SMA, although the moving average is now flat. Technical indicators are turning lower within positive level, the Momentum stuck to its 100 level and the RSI at 56, somehow suggesting the decline could continue, particularly if the pair losses 0.6830 an immediate static support.
Support levels: 0.6830 0.6800 0.6770
Resistance levels: 0.6885 0.6920 0.6950
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.