AUD/USD consolidates below 0.68 in choppy day of trade

  • US President Trump says he is not ready to make a deal with China.
  • US Dollar Index moves sideways above 98 amid a lack of market drivers.
  • The RBA is scheduled to release the minutes of its August meeting on Tuesday.

The AUD/USD pair fluctuated between the 0.67 and 0.68 handles last week and continues to trade sideways on Monday as investors stay on the sidelines while waiting for the next significant market driver. As of writing, the pair was down 0.07% on the day at 0.6775.

Quiet start to the week

Over the weekend, US President Donald Trump said that he was not yet ready to make a trade deal with China and added that it would be harder to reach an agreement if the violence in Hong Kong continued. On the other hand, the People's Bank of China (PBOC) fixed the yuan stronger than last week this Monday and helped ease concerns over a currency war. Nevertheless, markets largely ignored these developments and antipodeans are staying stuck in their recent ranges against the US dollar.

On the other hand, after rising 1.2% on a weekly basis, the US Dollar Index is staying flat on the day near 98.20 to reflect the subdued market action. Meanwhile, the 10-year US Treasury bond yield is staging a decisive recovery adding 4.5% on the day and allowing the Greenback to stay resilient against its rivals.

There won't be any macroeconomic data releases from the US in the remainder of the day and markets will wait for the Reserve Bank of Australia (RBA) to release the minutes of its August meeting. Commenting on the bank's policy outlook, Nomura analysts said that they were expecting a 25 basis points rate cut in November 2019 and one more in February 2020.

Technical levels to watch for


Today last price 0.6776
Today Daily Change -0.0003
Today Daily Change % -0.04
Today daily open 0.6779
Daily SMA20 0.684
Daily SMA50 0.6917
Daily SMA100 0.6969
Daily SMA200 0.7061
Previous Daily High 0.6796
Previous Daily Low 0.677
Previous Weekly High 0.6818
Previous Weekly Low 0.6736
Previous Monthly High 0.7082
Previous Monthly Low 0.6832
Daily Fibonacci 38.2% 0.6786
Daily Fibonacci 61.8% 0.678
Daily Pivot Point S1 0.6767
Daily Pivot Point S2 0.6756
Daily Pivot Point S3 0.6741
Daily Pivot Point R1 0.6793
Daily Pivot Point R2 0.6808
Daily Pivot Point R3 0.6819



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD hovers around the 34-months lows amid growth concerns

EUR/USD is trading below 1.0850, just above the lowest since April 2017. Concerns about eurozone growth are weighing on the common currency. Markets are watching coronavirus developments. 


GBP/USD shrugs off Brexit concerns and holds its ground

GBP/USD is trading around 1.3050, little-changed. The French foreign minister warned of acrimonious Brexit talks as the UK's chief negotiator is laying down a tough stance. 


Forex Today: Coronavirus fears persist, Japanese economy squeezes, cryptos climb down

China has announced it will stimulate the economy in the face of the coronavirus outbreak, including lower corporate taxes and increased spending. While most factories have returned to work, Beijing has tightened restrictions on movements in the Hubei province.

Read more

Gold slips below $1580 level amid improving risk sentiment

Gold retreats from two-week tops amid receding demand for traditional safe-haven assets. The precious metal failed to capitalize on its recent positive move to near two-week tops and edged lower during the early European session on Monday amid fading safe-haven demand.

Gold News

FXStreet launches Real-Time Trading Signals

FXStreet Signals offers access to explanatory live webinars, real-time notifications when signals are triggered and exclusive membership to the company’s Telegram group, where users get direct guidance by our analysts and get room to discuss and interact.

More info