AUD/USD Current Price: 0.7763

  • The Reserve Bank of Australia is widely anticipated to maintain its monetary policy unchanged.
  • Australian manufacturing output rose at a solid pace in April according to the PMIs.
  • AUD/USD pressures daily highs amid substantial gains in equities and gold.

The AUD/USD pair gapped higher at the weekly opening, extending its recovery as the day went by to as high as 0.7765, holding nearby as the day comes to an end. The aussie benefited from a stocks comeback and resurgent gold prices. The bright metal peaked at $ 1,797.91 a troy ounce, before retreating modestly.

Data wise, Australia published the April AIG Performance of Manufacturing Index, which came in at 61.7, improving from 59.9. The Commonwealth Bank Manufacturing PMI for the same month resulted at 69.7, beating expectations. Finally, April TD Securities Inflation rose 0.4% MoM and 2.3% YoY.

During the upcoming Asian session, the Reserve Bank of Australia will announce its monetary policy decision. Australian policymakers are widely anticipated to leave the current policy unchanged, although there are mounting hopes that they will upwardly review their outlooks, on the back of recent upbeat data. Still, a cautious statement is anticipated on the back of moderate inflation.

AUD/USD short-term technical outlook

The AUD/USD pair pressures the mentioned daily high, but near-term technical readings fall short of confirming a bullish continuation. The 4-hour chart shows that the pair is currently above all of its moving averages, which anyway lack directional strength. The RSI indicator heads modestly higher at around 53, while the Momentum retreats after failing to overcome its midline. The pair has bounced from the lower end of its latest range, holding below the critical 0.7820 resistance, the level to surpass to gain further ground.

 Support levels: 0.7730 0.7690 0.7650

Resistance levels: 0.7775 0.7820  0.7859

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. 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.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD skyrockets to 1.2150 on poor US jobs figures

EUR/USD has hit a new multi-month peak above 1.2150 after the US reported an increase of only 266,000 jobs in April against nearly one million expected. The dollar is under immense pressure. 

EUR/USD News

GBP/USD soars toward 1.40 after disappointing Nonfarm Payrolls

GBP/USD has been extending its gains after the US Nonfarm Payrolls badly disappointed with an increase of only 266,000 jobs in April, nearing 1.40. Earlier, sterling benefited from the UK Conservative Party's gains in local elections. 

GBP/USD News

XAU/USD soars above $1,835 after weak Nonfarm Payrolls

Gold has leaped above $1,835 after the US reported an increase of only 266K jobs in April, far below expectations. Lower US yields support the precious metal.

Gold News

Judge reaffirms order SEC must produce documents on Bitcoin, Ether and XRP in Ripple case

Ripple's victory granted the firm access to the SEC's documents on the three leading cryptocurrencies. The regulatory agency recently denied the possession of these documents.

More Dogecoin News

S&P 500 and Nasdaq: Can the Fed pump anymore after weak jobs report

Well, that was an interesting jobs report. Not too many people were forecasting that one. Just in case you missed it NFP were forecast to come in around the 1 million jobs gained but instead the US only added 266k.

Read more

Majors

Cryptocurrencies

Signatures