AUD/USD eases from 1-1/2 week tops, holds steady below 0.6100 mark


  • AUD/USD continued with its recent recovery move amid some follow-through USD selling.
  • The USD bearish pressure now seems to have receded and kept a lid on any additional gains.

The AUD/USD pair edged higher through the Asian session and climbed to 1-1/2 week tops in the last hour, albeit retreated few pips thereafter.

The pair built on its recent recovery move from the vicinity of the key 0.5500 psychological mark, or over 17-year lows and gained some follow-through traction on Friday amid persistent selling bias around the US dollar.

The perceived riskier currency – the aussie – further benefitted from easing concerns over an imminent global recession, all against the backdrop of the Fed's unlimited QE and a massive $2.2 trillion US economic stimulus package.

Meanwhile, the USD bearish pressure now seems to have receded, at least for the time being, which seemed to be the only factor that kept a lid on any further positive move, rather led to a modest pullback of around 40 pips from daily tops.

The pair has now slipped back below the 0.6100 round-figure mark. In absence of any major market-moving economic releases, the pair remains at the mercy of developments surrounding the coronavirus saga and the USD price dynamics.

Technical levels to watch

AUD/USD

Overview
Today last price 0.6089
Today Daily Change 0.0026
Today Daily Change % 0.43
Today daily open 0.6063
 
Trends
Daily SMA20 0.6239
Daily SMA50 0.6527
Daily SMA100 0.6698
Daily SMA200 0.6774
 
Levels
Previous Daily High 0.6087
Previous Daily Low 0.587
Previous Weekly High 0.6307
Previous Weekly Low 0.5509
Previous Monthly High 0.6775
Previous Monthly Low 0.6434
Daily Fibonacci 38.2% 0.6004
Daily Fibonacci 61.8% 0.5953
Daily Pivot Point S1 0.5926
Daily Pivot Point S2 0.5789
Daily Pivot Point S3 0.5709
Daily Pivot Point R1 0.6144
Daily Pivot Point R2 0.6224
Daily Pivot Point R3 0.6361

 

 

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