AUD/USD drops below 0.7700, looks to post small losses for the week

  • AUD/USD continues to push lower ahead of the weekend.
  • US Dollar Index climbs to fresh weekly highs above 90.50.
  • Consumer confidence in US improved modestly in June.

The AUD/USD pair extended its daily slide in the second half of the day on Friday and touched a weekly low of 0.7689. As of writing, the pair was losing 0.75% on a daily basis at 0.7694.

The renewed USD strength during the American trading hours seems to be weighing heavily on AUD/USD. After spending the majority of the day in a tight range below 90.00, the US Dollar Index gained traction and is currently up 0.56% on the day at 90.56. Amid a lack of significant fundamental drivers, the 2% recovery seen in the benchmark 10-year US Treasury bond yield is helping the USD find demand.

The only data from the US showed on Friday that the University of Michigan's Consumer Sentiment Index improved modestly to 86.4 in June's preliminary reading from 82.9 in May. This print came in slightly better than the market expectation of 84.

AUD/USD outlook

"The AUD/USD pair is still neutral in its weekly chart, seesawing around a directionless 20 SMA while above the longer ones, which also stand aimless," noted FXStreet Chief Analyst Valeria Bednarik. "The Momentum indicator heads nowhere around its midline, while the RSI grinds lower, currently at 54."

"The immediate support level is 0.7645, followed by 0.7600 and 0.7531, the latter being the yearly low," Bednarik adds. "Relevant resistances come at 0.7770 and 0.7820, with a break above the latter favoring a bullish extension toward 0.7900."

AUD/USD Weekly Forecast: Still ranging, but not for long.

Additional levels to watch for


Today last price 0.7694
Today Daily Change -0.0060
Today Daily Change % -0.77
Today daily open 0.7754
Daily SMA20 0.7744
Daily SMA50 0.7733
Daily SMA100 0.7727
Daily SMA200 0.7544
Previous Daily High 0.7764
Previous Daily Low 0.7718
Previous Weekly High 0.7774
Previous Weekly Low 0.7644
Previous Monthly High 0.7892
Previous Monthly Low 0.7674
Daily Fibonacci 38.2% 0.7746
Daily Fibonacci 61.8% 0.7736
Daily Pivot Point S1 0.7727
Daily Pivot Point S2 0.7699
Daily Pivot Point S3 0.7681
Daily Pivot Point R1 0.7773
Daily Pivot Point R2 0.7791
Daily Pivot Point R3 0.7819



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

GME stock positioned for another short squeeze

Get the full analysis and chart in our Insights. Upgrade to Premium today    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD loses 1.21 as the dollar extends its gains

EUR/USD has dipped below 1.21, some 70 pips down on the day as the dollar recovers alongside Treasury yields. US Consumer Sentiment beat estimates with 86.4 points. 


GBP/USD retreats amid UK GDP miss, reopening concerns

GBP/USD is hovering around 1.4150, down on the day. UK GDP missed with 2.3% in April and a four-week delay to Britain's reopening is speculated. The greenback is gaining some ground.


XAU/USD drops back below $1900, as US dollar rebounds ahead of data

Gold price has retraced below the $1900 mark once again, having tested Tuesday’s high near $1903. The latest leg down in gold price comes on the back of a tepid bounce staged by the US dollar, as the Treasury yields trim losses across the curve.

Gold News

Ethereum price prepares for a bullish weekend, targeting $3,000

Ethereum price seems prime to revisit $3,000. Although ETH faces resistance at $2,300, the upswing seems imminent. A downswing below $2,000 could invalidate the bullish thesis. 

Read more

Hot Inflation is warming the seat for the June FOMC

Americans are seeing the fastest price increases since their seventh-graders were born as inflation builds into the US economy from the disruptions of the pandemic lockdowns. Core CPI at 3.8% is the steepest gain in 29 years.

Read more