AUD/USD Current Price: 0.7787

  • Australian Q4 Gross Domestic Product came in at 3.1% QoQ, better than expected.
  • Wall Street’s poor performance and rising US Treasury yields weighed on the pair.
  • AUD/USD is neutral in the near-term, bulls can build once above 0.7840.

The AUD/USD pair trades around the 0.7800 level ahead of the Asian opening, little changed on a daily basis. During US trading hours, the pair fell to 0.7770 as the greenback got an intraday boost from rising US Treasury yields, while the aussie fell alongside equities, as Wall Street fell at the opening, later recovering and providing support to the pair.

The pair show little reaction to upbeat Australian growth figures, as the Q4 Gross Domestic Product came in at 3.1% QoQ, better than the 2.5% expected. The February Commonwealth Bank Services PMI printed at 53.4, down from 54.1 in the previous month, while the AIG Performance of Construction Index came in at 57.4 from 57.6 previously. During the upcoming Asian session, Australia will publish the final version of January Retail Sales and the Trade Balance for the same month.

AUD/USD short-term technical outlook

The AUD/USD pair is struggling to extend gains beyond the 0.7800 threshold, neutral in the near-term. The 4-hour chart shows that it´s trading between directionless moving averages, while the Momentum indicator retreats within positive levels, and the RSI consolidates around 47. Further gains are to be expected on a break above 0.7837, the weekly high.

Support levels: 0.7770 0.7730 0.7690

Resistance levels:  0.7840 0.7880 0.7920

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 jumps above 1.20 on upbeat market mood

EUR/USD has jumped above 1.20, hitting the highest since March amid a risk-on mood and falling US yields. An uptick in EU vaccination rates is also boosting sentiment.


GBP/USD advances toward 1.39 as US yields drop

GBP/USD is on the rise as falling US yields drag the euro down. Britain's successful vaccination campaign and an optimistic market mood also support cable.


XAU/USD hits fresh two-month highs near $1790 as US dollar tumbles

Gold is breaking higher towards $1800, as USD sell-off resumes. The US Treasury yields remain depressed amid dovish Fed bets. XAU/USD’s technical indicators point to more upside.

Gold News

Ripple recovery in full force as key indicator flashes buy signals

XRP price is poised for a significant rebound after the TD Sequential indicator presented two buy signals. The digital asset faces only one crucial resistance level on its way up. The number of large holders continues to steadily increase. 

Read more

S&P 500 Week Ahead: Banks beat the street, COIN booms as funds flow to ETFs

Equity markets continue to remain bolstered from all sides as the macro environment produces strong numbers, earnings continue to smash estimates and inflation concerns take a back seat. Earnings season switches from bank stocks to reopening plays.

Read more