AUD/USD Current Price: 0.6880

  • AUD/USD returned to multi-month lows, equities' rally contained the downside.
  • RBA Minutes showed that policymakers dropped the words "not a strong case" for a near-term move.

The AUD/USD pair resumed its decline and finished the day at around 0.6880, not far from its recent lows. The Aussie dived after the RBA Meeting's Minutes showed that policymakers dropped the words "not a strong case" for a near-term move in the cash rate, seen by speculative interest as the first step toward a rate cut. The central bank emphasized that a rate cut could be appropriate if the labour market doesn't improve. The pair closed the gap left Monday, now hovering around Friday's close. Australia will release the Westpac Leading Index for April this Wednesday, previously at 0.2%, and Q1 Construction Word Done, seen flat after falling 3.1% in the previous quarter.

From a technical point of view, the pair is back to bearish according to the 4 hours chart trading below its 20 SMA, which heads south at around 0.6895, as technical indicators lack directional strength, the Momentum around its 100 level and the RSI closer to oversold readings at 39. The pair would need to break the 0.6865 support to extend its decline toward the 0.6800/20 region during the upcoming sessions, while below this last a bearish extension should be expected despite oversold conditions.

Support levels:  0.6865 0.6825 0.6775

Resistance levels: 0.6905 0.6930 0.6965    

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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD consolidates losses as Fed moderates message

EUR/USD is trading above 1.1350, consolidating its losses. The Fed's Bullard and Chair Powell have conveyed a balanced message and chancing for a sharp rate cut of 50bp in July have dropped.


GBP/USD on the back foot after Johnson's Brexit commitment

GBP/USD is trading below 1.2700, losing some ground. Leading Conservative contender Johnson has rattled markets by saying leaving the EU by October 31st is "do or die." BOE Governor Carney speaks later.


USD/JPY: Bulls back in charge, re-takes 107.50

The less dovish rhetoric from a selection of Fed speakers overnight continues to aid the post-FOMC US dollar recovery, prompting the USD/JPY pair to retest the midpoint of the 107 handle despite negative Asian equities. 


Conference Board Consumer Confidence: The China syndrome

The index declined to 121.5 in June from April’s revised 131.3. A much more modest drop to 131.2 had been predicted.  “The escalation in trade and tariff tensions earlier this month appears to have shaken consumers’ confidence,” wrote Lynn Franco.

Read more

Gold: 100-HMA triggers the U-turn towards $1421?

Gold is on a run towards near-term horizontal-resistance following its U-turn from the 100-hour moving average (HMA) ticks it up to $1407.80 ahead of the European open on Wednesday.

Gold News