AUD/USD: Buyers and sellers seek fresh clues to break the range


  • AUD/USD remains range-bound as trade-positive signals confront overall USD strength.
  • FOMC minutes couldn’t disappoint greenback buyers.
  • Risk recovery in the spotlight amid a lack of major data/event.

Given the recent risk-on confronting broad US Dollar (USD) strength, the AUD/USD pair keeps inside a short-term trading range while taking rounds to 0.6780 on early Thursday morning in Asia.

The US President Donald Trump’s U-turn on the prospects of a trade deal with China, from previous “maybe” to doing “great”, seems to have gained major market attention off-late while his ever unlike of the Fed Chairman Jerome Powell’s policies failed to get noticed.

Recently, the International Monetary Fund (IMF) warned the US and China that hiking tariffs only harms both domestic and global growth.

Minutes of the July month Fed monetary policy meeting keeps the gate open for further rate cuts while considering the latest 0.25% rate cut as a mid-cycle adjustment. It should, however, be noted that some among the policymakers were not in support of such a move.

Market’s risk tone recently surged with the US equity benchmarks gaining near 1.0% by the closing time whereas Treasury yields also portraying the recovery.

With no major data left for publishing the Aussie moves are more likely to rely on trade/political news ahead of the key Jackson Hole Symposium that begins late-Thursday in the US.

Technical Analysis

The 0.6822-0.6745 area continues to limit the quote with the latest bullish signals by 12-bar moving average convergence and divergence (MACD) on the daily chart increases the hope for witnessing June low of 0.6831. If prices decline below 0.6745, 0.6700 and monthly bottom around 0.6677 can please the bears.

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.

Feed news

Latest Forex News

Editors’ Picks

Euro rolling into the Asian session flirting with the 1.1000 handle

The common currency, on the daily chart, is trading in a bear trend below its main daily simple moving averages (DSMAs). On Tuesday, the market will pay attention to the German ZEW survey.

EUR/USD News

GBP/USD: Bearish MACD highlights 2-week-old support-line for sellers

Following its pullback from 1.2507, GBP/USD has been on the sellers’ radar with the recent quotes being around 1.2430 amid initial Tuesday morning in Asia. The pair aims to revisit short-term rising trend-line.

GBP/USD News

USD/JPY eases-off seven-week tops as risk-aversion creeps in

USD/JPY retreats from seven-week highs of 108.36, as markets turn risk-averse amid poor Chinese macro news and ahead of the key central banks' policy announcement this week. S&P 500 futures turn negative while Treasury yields drop over 1%. 

USD/JPY News

Gold pulls back to sub-$1,500 region in search of fresh catalysts

With fewer catalysts to rely on, Gold prices trade near $1,497 during Tuesday’s Asian session. The yellow metal benefited from the drone attack on Saudi Arabian oil facilities that destroyed the oil-rich nation’s 50% output.

Gold News

Investors Nervous Ahead of FOMC

There are four central bank monetary policy announcements on the calendar this week but the Fed's is hands down the most important. Euro and Pound also fell sharply on Monday.

Read more

Forex MAJORS

Cryptocurrencies

Signatures