AUD/USD clinging to 5-DMA support
Currently, the AUD/USD pair gains 0.05% to 0.7270, easing-off session highs reached at 0.7282 at Tokyo start. The Aussie attempts a minor pullback from Friday’s lows and remains supported above 5-DMA at 0.7262 amid lack of fresh fundamentals triggers as the Australian markets remain closed on account of Box Day holiday.
Later this week, nothing relevant for the AUD is expected to be reported while most traders are away on an extended Christmas-New Year holidays, with liquidity expected to return next Monday. While the focus now remains on the sentiment on the global equities and commodities’ prices for further momentum on the pair.
AUD/USD Levels to watch
The pair finds the immediate resistance at 0.7300 (round number) above which gains could be extended to the next hurdle located at 0.7352 (200-DMA). On the flip side, the immediate support is located at 0.7248 (1h 50-SMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7228/20 (20 & 10-DMA).
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.