AUD/USD Current Price: 0.6778

  • Robust Australian employment data not enough to twits RBA’s hands.
  • The poor performance of equities helped to keep the upside limited.
  • AUD/USD short-term neutral, bullish potential to increase above 0.6810/20.

The AUD/USD pair has added roughly 30 pips this Thursday, with the Aussie getting an early boost from Australian employment data, much better-than-anticipated. According to the official release, the country added 41.1K new jobs in July, surpassing the market’s forecast of 14.0K and most of them being full-time positions, which rose by 34.5K. Also, the unemployment rate remained steady at 5.2%, despite the participation rate increased by 66.1%. The news came after wages were reported to have ticked higher in the second quarter of the year, defying signs of an economic slowdown. Despite the robust numbers, the pair remained below 0.6800. The poor performance of equities limited the upside for the AUD. Australia won’t release relevant data this Friday.

AUD/USD short-term technical outlook

The  AUD/USD pair is heading into the Asian opening holding within familiar levels, just below its weekly opening.  The short-term picture is neutral, according to the 4 hours chart, as it’s hovering above a flat 20 SMA, but remains below a bearish 100 SMA, this last at around 0.6820. Technical indicators, in the meantime, hold directionless just above their midlines. Further recoveries will depend on a better market mood and recovery above the 0.6810/20 price zone, a strong resistance area.

Support levels: 0.6740 0.6700 0.6675

Resistance levels: 0.6815 0.6840 0.6880

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 falls off the highs amid trade wars, weak German figures

EUR/USD is falling toward 1.1100. The German IFO Business Climate dropped to 94.3 points, below expectations. Markets are concerned by the intensifying US-Sino trade wars.

EUR/USD News

GBP/USD consolidates amid Brexit uncertainty

GBP/USD is trading below 1.2300, consolidating its gains. The UK and the EU have been blaming each other for a potential no-deal Brexit. US-Sino tensions are in play as well.

GBP/USD News

USD/JPY recovers farther from multi-year lows on Trump’s positive trade-related comments

The incoming positive trade-related comments dented the JPY’s safe-haven demand. Improving global risk sentiment helped the pair to recover around 150-pips intraday. Investors now look forward to the US durable goods orders data for a fresh impetus.

USD/JPY News

Forex Today: Trade wars paint markets in red, Brexit looks worse, and central banks are limited

Here is what you need to know on Monday, August 26th: The US-Sino trade war is painting global markets in the red. The US dollar is losing some ground to major currencies as yields plunge, while it gains against commodity currencies. Gold is rising and oil is falling.

Read more

Gold retreats from multi-year tops, fills weekly bullish gap on positive trade headlines

Gold extended its intraday pullback from fresh multi-year tops and dropped to fresh session lows in the last hour, filling the weekly bullish gap. The US-China trade tensions escalated further.

Gold News

Majors

Cryptocurrencies

Signatures