AUD/USD climbs to 15-day highs, inches closer to 0.70


  • Broad-based greenback weakness helps the pair push higher.
  • Focus today remains on FOMC Chairman Powell's speech.
  • RBA's Bullock refrained from commenting on the policy outlook.

The AUD/USD pair extended its rally on Tuesday and continued to push higher amid the persistent selling pressure surrounding the greenback. As of writing, the pair is trading at its highest level in more than two weeks at 0.6970, adding 0.15% on a daily basis.

The lack of macroeconomic data releases from Australia during the Asian session on Tuesday allowed the greenback's market valuation to continue to drive the pair's price action. Earlier today,  Reserve Bank of Australia (RBA) Assistant Governor (Financial System) Michele Bullock didn't touch on the RBA's next policy move. Hurt by the heightened odds of the Fed opting out either for a 50 basis points or a 25 basis points rate cut in July, the US Dollar Index slumped to its lowest level in more than three months at 95.84. 

Ahead of the Conference Board's Consumer Confidence Index and new home sales data from the U.S., the US Dollar Index is moving sideways near the 96 mark. 

During his prepared speech earlier today, NY Fed President Williams didn't comment on the policy outlook or the current state of the economy. Later in the day, FOMC Chairman Powell will be speaking on the monetary policy and could trigger a fresh USD-selling wave if he keeps his dovish tone and doubles down on rate cuts.

Technical levels to consider

AUD/USD

Overview
Today last price 0.6972
Today Daily Change 0.0010
Today Daily Change % 0.14
Today daily open 0.6962
 
Trends
Daily SMA20 0.6933
Daily SMA50 0.6975
Daily SMA100 0.7042
Daily SMA200 0.7108
Levels
Previous Daily High 0.6969
Previous Daily Low 0.6926
Previous Weekly High 0.6938
Previous Weekly Low 0.6831
Previous Monthly High 0.7062
Previous Monthly Low 0.6862
Daily Fibonacci 38.2% 0.6953
Daily Fibonacci 61.8% 0.6942
Daily Pivot Point S1 0.6936
Daily Pivot Point S2 0.6909
Daily Pivot Point S3 0.6893
Daily Pivot Point R1 0.6979
Daily Pivot Point R2 0.6995
Daily Pivot Point R3 0.7022

 

 

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

EUR/USD remains depressed but off daily lows

The EUR/USD pair is recovering from a daily low of 1.1216, although holding in negative territory for the day. US preliminary Michigan Consumer Sentiment Index improved by less-than-anticipated in July, coming in at 98.4 vs. the 98.5 expected.

EUR/USD News

GBP/USD trading marginally lower daily basis but above 1.2500

The Pound gave back some of its Thursday’s gain on dollar’s relief. The GBP/USD pair broke a daily descendant trend line coming from June’s high and holds above it, leaving little room for sellers to act.

GBP/USD News

USD/JPY: bears pausing, still in control

Japanese National Inflation steady at 0.7%YoY in June. US Michigan Consumer Sentiment Index expected at 98.5 in July. USD/JPY corrective advance falling short of signaling an interim bottom in place.

USD/JPY News

Gold consolidates around $ 1440, eyes US data for fresh direction

Gold (futures on Comex) extends its side-trend around the 1440 mark into the mid-European session, having stalled its retreat from 2019 highs of 1454 near 1437 region.

Gold News

Something has spooked the Fed

We wish we knew what it is. Wild talk of the US joining Japan and Europe with zero or negative return on the 10-year is or should be very frightening.

Read more

MAJORS

Cryptocurrencies

Signatures


  •  
  •  
  •  
  •  
  •