AUD/USD
AUDUSD edges higher on Friday as traders collected part of profits from the drop in past four days.
Today’s action marks the first gain this week, but the pair remains on track for a weekly loss of over 1% so far.
Technical studies on daily chart are mixed and lack clearer direction signal, with lift and close above 0.6650 zone (10DMA / 50% retracement of 0.6714/0.6591) seen as a minimum requirement to keep recovery in play for retest of upper pivots at 0.6676 (Fibo 61.8% of 0.6871/0.6362) and 0.6713 (weekly cloud top).
Otherwise, the downside will remain vulnerable, as limited upticks will likely signal positioning for fresh push lower.
Pivotal supports lay at 0.6580/60 zone (last week’s low/Fibo 38.2% of 0.6362/0.6714/converged 100/55DMA’s) and break here would risk deeper correction.
Res: 0.6644; 0.6667; 0.6676; 0.6750.
Sup: 0.6592 0; 6580; 0.6560; 0.6538.
Interested in AUD/USD technicals? Check out the key levels
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
Recommended Content
Editors’ Picks
AUD/USD Price Analysis: Sideways trend continues unfolding
![AUD/USD Price Analysis: Sideways trend continues unfolding](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/AUDUSD/australian-currency-18259170_XtraSmall.jpg)
AUD/USD is in a down-leg within a narrow trading range. The pair is probably in a sideways trend with the odds favoring an extension of that trend. A decisive break above or below the top or bottom of the range would generate follow-through targets.
EUR/USD: Central banks’ decisions will keep taking their toll
![EUR/USD: Central banks’ decisions will keep taking their toll](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/EURUSD/dollar-and-euro-bills-58059534_XtraSmall.jpg)
The EUR/USD pair slid below the 1.0700 mark for the first time in over a month on Friday, as the US Dollar surged on the back of risk aversion. The dismal mood prevailed throughout the week, with a short-lived exception on Wednesday when softer-than-anticipated United States inflation brought a breath of fresh air.
Gold gains ground as traders dial up Fed rate cut bets for September
![Gold gains ground as traders dial up Fed rate cut bets for September](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/stack-of-golden-bars-in-the-bank-vault-60756080_XtraSmall.jpg)
Gold registered limited gains this week, supported by safe-haven flows and soft inflation data from the US. In the absence of high-impact macroeconomic data releases ahead, investors will pay close attention to technical developments in XAU/USD and comments from Federal Reserve officials.
Bitcoin active addresses hit lowest level in five years, BTC ranges below $67,000
![Bitcoin active addresses hit lowest level in five years, BTC ranges below $67,000](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoins-33758372_XtraSmall.jpg)
Bitcoin, the largest asset by market capitalization, has noted a decline in its active address count per data from Glassnode. A decline in active addresses is typical at a time during a surge in Bitcoin transaction fees.
Week ahead: RBA, SNB and BoE next to decide, CPI and PMI data also on tap
![Week ahead: RBA, SNB and BoE next to decide, CPI and PMI data also on tap](https://editorial.fxstreet.com/images/Macroeconomics/MonetaryPolicy/SNB/entry-portal-of-swiss-national-bank-snb-in-berne-25617383_XtraSmall.jpg)
It will be another central-bank-heavy week with the RBA, SNB and BoE. Retail sales will be the highlight in the United States. Plenty of other data also on the way, including flash PMIs and UK CPI.