• The Aussie dollar breaks above 0.7350 on a higher US CPI reading.
  • A mixed market sentiment put a lid on the AUD gains.
  • AUD/USD: A daily close above 0.7400 opens the door for a test of the 100-DMA.

The AUD/USD is rising during the New York session, is trading at 0.7373, up 0.30% at the time of writing.
The market sentiment seesaws between risk-on/off mood, depicted by European stock indexes rising between 0.17% and 0.75%, while across the pond, American equity indexes are losing in the range of 0.25% and 0.52%, except for the Nasdaq Composite, which is in the green.

Factors like the higher US CPI reading, rising energy prices, and the possibility of slower growth dampen the market sentiment throughout the New York session. In the meantime, the US Dollar Index, which measures the greenback’s performance against a basket of six rivals, losses ground as US T-bond yields fall, declines 0.31%, sits at 94.18.

Iron ore is falling 6.20%, trading at $120.00 per metric tonne, putting a lid on the Australian dollar upside move.

On the Australian economic docket, the Westpac Consumer Confidence Change shrank to 1.5% worse than the 2% increase estimated by investors.

On the US front, the Consumer Price Index, on an annual basis, rose 5.4% in September, from a year earlier, a tick higher than the August reading. Meanwhile, the Core Consumer Price Index, which excludes the volatile food and energy prices, climbed 4%, unchanged from a year earlier.

Later on the day, the Federal Open Market Committee’s (FOMC) last meeting minutes will be unveiled at 18:00 GMT.

AUD/USD Price Forecast: Technical outlook

Dail chart

The Aussie dollar is approaching the top of the week. The 50-day moving average (DMA) at 0.7302 is the first support level, whereas the 100 and the 200-DMA remain above the spot price, acting as resistance levels. 

Momentum indicator like the Relative Strength Index (RSI) at 59, aiming slightly up, supports the upward trend, but a daily close above 0.7400 could motivate AUD/USD buyers in their attempt to push the pair higher. In that outcome, the first resistance level would be the 100-DMA at 0.7416. A breach of that level could move the pair towards the September 3 high at 0.7477, immediately followed by 0.7500.



Today last price 0.7373
Today Daily Change 0.0022
Today Daily Change % 0.30
Today daily open 0.7351
Daily SMA20 0.7277
Daily SMA50 0.7306
Daily SMA100 0.7423
Daily SMA200 0.7576
Previous Daily High 0.7385
Previous Daily Low 0.7332
Previous Weekly High 0.7339
Previous Weekly Low 0.7226
Previous Monthly High 0.7478
Previous Monthly Low 0.717
Daily Fibonacci 38.2% 0.7352
Daily Fibonacci 61.8% 0.7365
Daily Pivot Point S1 0.7327
Daily Pivot Point S2 0.7302
Daily Pivot Point S3 0.7273
Daily Pivot Point R1 0.738
Daily Pivot Point R2 0.7409
Daily Pivot Point R3 0.7434



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 slides under 1.16 as US Retail Sales smash estimates

EUR/USD is trading under 1.16 after US Retail Sales smashed estimates with 0.7% in September. Treasury yields are rising. The risk-on mood continues to underpin the pair, as the ECB policymaker Wunsch dismisses inflation concerns. 


GBP/USD retreats below 1.3750 after US data

GBP/USD has pared some of its gains after US Retail Sales beat estimates, with the core group hitting 0.8% last month. Earlier, investors shrugged off dovish comments from two BOE members. 


XAU/USD slumps to $1,770 area on upbeat US data, surging US bond yields

Gold started the last day of the week on the back foot and extended its slide to a fresh daily low of $1,770 in the early trading hours of the American session pressured by the dollar's resilience and surging US Treasury bond yields.

Gold News

Crypto bulls on winning streak pushing for more

Bitcoin price favors bulls reaching $60,000 by the end of this week and onwards to new all-time highs by the end of next week. Ethereum price broke a bearish top line and could hit new all-time highs by next week in tandem with Bitcoin. 

Read more

Why is Tesla going up?

Tesla's (TSLA) stock price has finally pushed higher in a series of steady and sure moves. We had nearly given up on our bullish call with Tesla stock as it kept struggling around the $800 level.

Read more