AUD/USD Current Price: 0.6832

  • Australian NAB’s Business Confidence and NAB’s Business Conditions seen shrinking in November.
  • Chinese import shrank further in November, with the trade surplus down to $38.73B.
  • AUD/USD poised to extend its decline once below the 0.6800 figure.

The AUD/USD pair has ended the first day of the week losing some ground, although as it happened across the FX board, the action was extremely limited. The Aussie was hit by Chinese trade data, as the country’s surplus in dollar terms, declined to $38.73B in November. Exports were down by 1.1%, while imports increased by 0.3%YoY in the same month, growing for the first time since last April. The poor performance of worldwide equities maintained the pair under pressure throughout the day, despite the broad dollar’s weakness.

RBA’s Governor Lowe will offer a speech this Tuesday, although not particularly focused on monetary policy. Australia will also release the NAB’s Business Confidence Index for November, seen at 0 from 2 previously, and the NAB’s Business Conditions Index, expected at 2 from the previous 3. Additionally, China will publish its November Inflation figures, with the monthly CPI seen up by 0.1%.

AUD/USD short-term technical outlook

The AUD/USD pair is neutral in the short-term, having found intraday support at the 38.2% retracement of its November slump at 0.6820. In the 4-hour chart, it is developing below the 20 and 200 SMA, both lacking directional strength, while technical indicators hover around their mid-lines, with modest upward slopes. The bearish case would be confirmed on a break below the 0.6800 figure, while the upside will remain limited by sellers aligned around 0.6865.

Support levels: 0.6800 0.6770  0.6730  

Resistance levels: 0.6865 0.6890 0.6920

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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD challenges weekly lows after mixed Durable Goods Orders

US Durable Goods Orders were up a measly 0.4% in August, missing expectations of 1.0%, although Nondefense Capital Goods Orders ex Aircraft jumped 1.8%. Equities bounce from lows, but the dollar maintains its strength.


GBP/USD reverses below 1.2750 amid US dollar comeback

GBP/USD extends the retreat below 1.2750, as the US dollar makes a comeback amid a cautious market mood. The cable briefly regained 1.28 after an EU official reportedly said that the tide may be turning despite no big breakthroughs. 


XAU/USD hangs near 2-month lows, bears await a break below 100-DMA

Gold failed to capitalize on the previous day's modest rebound from the vicinity of 100-day SMA support, instead met with some fresh supply on Friday. 

Gold News

Breaking: ​​​​​​​The IRS makes it hard to pretend you don’t have Bitcoin

The cryptocurrency holders might have a hard time trying to hide their Bitcoins or other digital assets. IRS considers changing the standard 1040 form by including a bold question on the front page:  At any time during 2020, did you sell, receive, send, exchange, or otherwise acquire any financial interest in any virtual currency? 

Read more

WTI: Sellers continue to lurk near $40.80

WTI (futures on NYMEX) turns south towards the $40 mark in the European session, having faced rejection above $40.50 on several occasions.

Oil News

Forex Majors