AUD/USD clings to gains above 0.6750, looks to snap three-day losing streak

  • US Dollar Index drops to fresh two-week lows on Thursday.
  • Renewed trade optimism boosts the demand for the AUD.
  • Coming up: The Reserve Bank of Australia's (RBA) Financial Stability Review.

After closing the first three days of the week with losses, the AUD/USD pair staged a decisive rebound on Thursday and rose to a fresh six-day high of 0.6775 before going into a consolidation phase in the American trading hours. As of writing, the pair was up 0.67% on the day at 0.6768.

Antipodeans capitalize on trade optimism

Revived hopes of the United States (US) and China reaching a trade deal seems to be the primary driver of the pair's rally on Thursday. Several news outlets reported that sides could reach a partial trade deal that includes terms regarding Yuan valuation in exchange for suspending the US tariffs next week. Additionally, Chinese Vice Premier on Thursday said that they were willing to reach agreement on matters that both sides care about and to prevent friction from further escalation.

In the meantime, the only macroeconomic data release from the US showed that the core Consumer Price Index (CPI) in September remained unchanged at 2.4% as expected. Nevertheless, the upbeat market mood made it difficult for the Greenback to find demand and the US Dollar Index slumped to its lowest level in two weeks to help the pair preserve its bullish momentum. At the moment, the index is down 0.4% on the day at 98.71.

In the early trading hours of the Asian session on Friday, the Reserve Bank of Australia (RBA) will be releasing its Financial Stability Review. More importantly, participants will be paying close attention to headlines coming out of the US-China trade negotiations.

Technical levels to watch for


Today last price 0.6767
Today Daily Change 0.0044
Today Daily Change % 0.65
Today daily open 0.6723
Daily SMA20 0.6778
Daily SMA50 0.6779
Daily SMA100 0.6868
Daily SMA200 0.6983
Previous Daily High 0.675
Previous Daily Low 0.6704
Previous Weekly High 0.6776
Previous Weekly Low 0.667
Previous Monthly High 0.6895
Previous Monthly Low 0.6687
Daily Fibonacci 38.2% 0.6722
Daily Fibonacci 61.8% 0.6733
Daily Pivot Point S1 0.6701
Daily Pivot Point S2 0.6679
Daily Pivot Point S3 0.6655
Daily Pivot Point R1 0.6748
Daily Pivot Point R2 0.6772
Daily Pivot Point R3 0.6794



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: Bullish case underpinned by weekend news

The EUR/USD pair has rallied Friday to close with gains for a third consecutive week at 1.1169. There was no particular catalyst for EUR gains. ECB scheduled to meet this week, although no fireworks expected this time.


GBP/USD: Uncertainty or relief? Action granted anyway

Hopes that the UK will avoid a hard-Brexit kept the Pound rallying against all of its major rivals by the end of last week, with GBP/USD finishing it a handful of pips below the critical 1.3000 level.


USD/JPY: Corrective slide to continue on sentiment

The USD/JPY pair closed the week at around 108.40, down Friday for a third consecutive day as the American currency remained under selling pressure. USD/JPY at risk of falling further only if it breaks below 108.00.


Gold turns flat above $1,490 as USD remains under pressure

After dropping to a daily low of $1,485, the XAU/USD pair staged a modest rebound during the American trading hours and turned flat on the day near $1,492.

Gold News

China’s downward economic path offers no escape from its trade problems

There were no surprises in China’s GDP figures as the government portrays an economy slipping steadily lower giving little promise of improvement or support for the waning global expansion.

Read more