AUD/USD advances to fresh session highs above 0.7700


  • AUD/USD is posting modest recovery gains following Friday's drop.
  • US Dollar Index is moving sideways around 90.50 on Monday.
  • Market action is likely to remain subdued in the remainder of the day.

After losing 50 pips on Friday, the AUD/USD pair started the new week in a calm manner before edging modestly higher during the European trading hours. As of writing, the pair was trading at a fresh session high of 0.7720, rising 0.18% on a daily basis. Nevertheless, in the absence of significant fundamental drivers, the pair's rebound seems to be a correction of its latest drop.

Markets stay quiet ahead of key events

There won't be any high-tier macroeconomic data releases featured in the US economic docket on Monday and investors are likely to refrain from taking large positions ahead of Tuesday's Retail Sales data and Wednesday's FOMC's policy announcements.

Currently, the US Dollar Index is consolidating last week's gains, moving sideways around last Friday's closing level of 90.50.

Meanwhile, US stock index futures are also trading little changed on the day, suggesting that the risk perception will not able to provide a directional clue to AUD/USD either.

On Tuesday, the Reserve Bank of Australia will release the minutes of its latest meeting. A hawkish tone could provide a temporary boost to the AUD. 

Technical levels to watch for

AUD/USD

Overview
Today last price 0.7719
Today Daily Change 0.0011
Today Daily Change % 0.14
Today daily open 0.7708
 
Trends
Daily SMA20 0.7741
Daily SMA50 0.7735
Daily SMA100 0.7727
Daily SMA200 0.7546
 
Levels
Previous Daily High 0.7776
Previous Daily Low 0.7687
Previous Weekly High 0.7794
Previous Weekly Low 0.7687
Previous Monthly High 0.7892
Previous Monthly Low 0.7674
Daily Fibonacci 38.2% 0.7721
Daily Fibonacci 61.8% 0.7742
Daily Pivot Point S1 0.7671
Daily Pivot Point S2 0.7635
Daily Pivot Point S3 0.7582
Daily Pivot Point R1 0.776
Daily Pivot Point R2 0.7813
Daily Pivot Point R3 0.7849

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD holds steady above 1.1750 amid worsening mood

EUR/USD is off the highs, holding steady above 1.1750 amid a worsening market mood, courtesy of the falling Chinese stocks. The pair opened higher and moved in a narrow trade band with 15 pips movement, with all eyes on the FOMC this week. 

EUR/USD News

GBP/USD: Demand for the pound is still partial

The GBP/USD pair ended Friday and the week unchanged around 1.3750, after bottoming on Tuesday at 1.3571, its lowest in five months. Brexit and the pandemic keep limiting demand for the pound. GBP/USD is losing bullish strength, but there are no signs of an upcoming slide.

GBP/USD News

EUR/USD holds steady above 1.1750 amid worsening mood

EUR/USD is off the highs, holding steady above 1.1750 amid a worsening market mood, courtesy of the falling Chinese stocks. The pair opened higher and moved in a narrow trade band with 15 pips movement, with all eyes on the FOMC this week. 

EUR/USD News

Ethereum price reaches initial target, but ETH rebound is more than a dead cat bounce

Ethereum price reached the initial price target at the union of the 200-week SMA with the 2020 ascending trend line and the 50-day SMA. Today’s weakness is an obvious outcome and follows a bearish momentum divergence on the four-hour chart.

Read more

Chart of the Week: Commodity-FX in focus, bears in control

With the Federal Open Market Committee and headlines regarding the Delta variant, the week ahead will be an important one from both a fundamental and technical perspective. AUD/USD bears seeking a break of meanwhile support. 

Read more

Forex MAJORS

Cryptocurrencies

Signatures