AUD/USD climbs to fresh daily highs near 0.7770 ahead of US data, Fed speak


  • AUD/USD is edging higher modestly ahead of key events on Thursday.
  • US Dollar Index fluctuates in a tight range near 90.30.
  • Eyes on US data, Fed speak and President-elect Biden's stimulus plan.

The AUD/USD pair posted modest losses on Wednesday and started to edge higher ahead of key events on Thursday. As of writing, the pair was up 0.45% on a daily basis at 0.7767.

Focus shifts to Biden's stimulus plan

The upbeat market during the European trading hours seems to be helping the risk-sensitive AUD find demand. Later in the session, the US Department of Labor's weekly Initial Jobless Claims data will be looked upon for fresh impetus.

More importantly, Boston Federal Reserve President Eric Rosengren, Atlanta Federal Reserve President Raphael Bostic and FOMC Chairman Jerome Powell will be delivering speeches. Meanwhile, the US Dollar Index is little changed around 90.30 on the day.

Finally, President-elect Joe Biden is expected to announce the stimulus plan. Several news outlets reported on Thursday that Biden will unveil a $2 trillion package that will include additional direct payments to Americans as well as significant funds for state and local governments. During the Asian trading hours, the 10-year US Treasury bond yield shot higher on stimulus hopes and a similar reaction during Biden's announcement could provide a boost to the greenback and cause AUD/USD to turn south.

On Friday, November Home Loans and Investment Lending for Homes data will be featured in the Australian economic docket.

Technical levels to watch for

AUD/USD

Overview
Today last price 0.7764
Today Daily Change 0.0027
Today Daily Change % 0.35
Today daily open 0.7737
 
Trends
Daily SMA20 0.7668
Daily SMA50 0.749
Daily SMA100 0.7336
Daily SMA200 0.7078
 
Levels
Previous Daily High 0.7782
Previous Daily Low 0.7722
Previous Weekly High 0.782
Previous Weekly Low 0.7642
Previous Monthly High 0.7743
Previous Monthly Low 0.7338
Daily Fibonacci 38.2% 0.7745
Daily Fibonacci 61.8% 0.7759
Daily Pivot Point S1 0.7712
Daily Pivot Point S2 0.7686
Daily Pivot Point S3 0.7651
Daily Pivot Point R1 0.7772
Daily Pivot Point R2 0.7807
Daily Pivot Point R3 0.7833

 

 

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