AUD/USD Current Price: 0.5960

  • Australian CB Leading Economic Index up to 106.9 in January.
  • Aussie retreated despite substantial gains in equities and steady gold prices.
  • The AUD/USD pair is unable to recapture the 0.6000 threshold.

The AUD/USD pair advanced to 0.6073, its highest in over a week, although it trimmed gains ahead of the close, posting a modest daily advance. An upbeat market mood, with equities soaring globally, underpinned the pair at the beginning of the day. Also, the Australian January Conference Board Leading Economic Index increased 0,4%  to 106.9, boosting demand for the Aussie. The pair retreated during the American afternoon, despite Wall Street’s impressive rallies. Gold eased just modestly, hardly enough to explain the retracement. Instead, it seems that the AUD is out of investors’ radar at the time being.

AUD/USD short-term technical outlook

Now trading at around 0.5960, the AUD/USD pair is holding on to positive ground, although losing its bullish potential. In the 4-hour chart, the pair holds above its 20 SMA, which maintains a mild-bullish slope, although below firmly bearish 100 and 200 SMA. Technical indicators, in the meantime, ease within positive levels, holding for now above their midlines.

Support levels: 0.5895 0.5850 0.5810  

Resistance levels: 0.5975 0.6000 0.6045

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

AUD/USD extends the break above 0.70 on coronavirus vaccine hopes

AUD/USD extends its break above 0.7000, hitting the highest level in five weeks. The pair benefits from the risk-on market mood amid coronavirus vaccine hopes. The bulls remain undeterred by the latest US-China tensions. 

AUD/USD News

Gold: Daily chart shows temporary uptrend exhaustion

Gold's daily chart shows a bearish divergence of the MACD, a sign of uptrend exhaustion. A break below the 10-day SMA could prove costly. The metal looks vulnerable to price pullback.

Gold News

USD/JPY: All eyes on BOJ to extend run-up past-107.00

USD/JPY refreshes the intraday high following a U-turn from 107.15. Increasing hopes of virus vaccine follow Wall Street's performance to recall the bulls. News that Tokyo will raise the pandemic to the highest levels, fears of an escalation in the US-China tussle challenge sentiment.

USD/JPY News

WTI: Prints another pullback from $41.00

WTI takes a U-turn from $41.08 to mark fifth failure to stay beyond the $41.00 threshold. 21-day EMA, a three-week-old support line restrict immediate downside. June month high, 200-day EMA offers strong resistance.

Oil News

Euro nears 4-month highs, CAD rate decision

Over the past few weeks, euro has been one of the best performing currencies. It rose to a nearly 4 month high versus the US dollar despite weaker than expected economic data.

Read more

Forex Majors

Cryptocurrencies

Signatures