AUD/USD analysis: remains vulnerable around 0.6900

Valeria Bednarik FXStreet

AUD/USD Current Price: 0.6915

The AUD/USD fell on Thursday and hit its lowest level in almost 2 weeks at 0.6901, weighed by Australian employment data, which came in mixed, with higher job gains but a higher unemployment rate as well. The Australian Bureau of Statistics on Thursday announced that employment increased by 42.3K in May, much more than the 17.5K expected and following April's revised gain of 43.1K. However, the unemployment rate remained steady at 5.2% to come in slightly worse than the market expectation of 5.1%.

Technically speaking, the pair holds a clear short-term bearish tone in 4-hour charts that has translated to daily as well. However, the RSI in 4H shows oversold conditions which might indicate some consolidation ahead. Below the 0.6900 psychological level, next target would be 0.6865, May lows. On the other hand, 0.6940 is the short-term resistance to overcome, where the 20-SMA is crossing upside-down the 100-SMA in 4H. Further resistances are seen at 0.7000 and 0.7060 (100-day SMA).

Support levels: 0.6865 0.6825 0.6800

Resistance levels: 0.6940 0.7000 0.7060

View Live Chart for the AUD/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.