AUD/USD eases towards 0.7750 as virus woes probe risk-on mood

  • AUD/USD fails to extend Tuesday’s gains despite refreshing weekly high early in Asia.
  • Aussie Job Vacancies eases to 23.9% in three months to November.
  • Record high covid-led deaths in the US, China’s biggest jump in infections join likely medical shortage in London, Germany.
  • American Congress stays firm to vote on Trump’s impeachment despite VP Pence’s reluctance.

Having initially refreshed the weekly top to 0.7782, AUD/USD recedes to 0.7767, down 0.10% intraday, during early Wednesday. While previous risk-on mood could be traced for the quote’s run-up, challenges to risks and downbeat employment data from Australia weighed on the AUD/USD prices off-late.

Australia’s Job Vacancies for three months to November dropped below 59.4% prior to 23.4%. The data become additionally negative for AUD/USD as the Aussie government’s employment relief measures expire in March and a weakness in jobs number before that challenges policymakers.

Talking about risks, the US coronavirus (COVID-19) death toll refreshed record high to near 4,500 as per John Hopkins data. On the same line, China’s virus numbers jumped to the highest in five months with 115 new confirmed cases on the mainland (55 the previous day) including 107 local infections. Furthermore, Japan’s Prime Minister Yoshihide Suga is set to declare a state of emergency in seven additional prefectures, per Kyodo News. It’s worth mentioning that the virus has recently posed a serious threat to the health care systems of Britain and Germany.

Other than the virus, US political drama surrounding President Donald Trump’s impeachment and President-elect Joe Biden’s fiscal stimulus also weigh on the risks.

Against this backdrop, the US 10-year Treasury yields drop for the first time in the last seven days but the S&P 500 Futures gains 0.25% to pierce the 3,800 threshold by press time.

While challenges to the risks recently weighed on the AUD/USD prices, US dollar weakness restricts the losses. That said, the US dollar index (DXY) drops for the second day, currently down 0.08% to 89.96.

Given the lack of major catalysts ahead of the US Consumer Price Index (CPI) and ECB President Christine Lagarde’s speech, AUD/USD traders may have to keep their eyes on risk headlines for fresh impulse.

Technical analysis

Having failed to extend the latest recovery moves from an ascending trend line from November 02, at 0.7677 now, AUD/USD sellers are again trying to retake the reins from the bulls who target the 0.7800 round-figure as an immediate upside hurdle.

Additional important levels

Today last price 0.7767
Today Daily Change -7 pips
Today Daily Change % -0.09%
Today daily open 0.7774
Daily SMA20 0.766
Daily SMA50 0.7479
Daily SMA100 0.7331
Daily SMA200 0.707
Previous Daily High 0.7778
Previous Daily Low 0.7687
Previous Weekly High 0.782
Previous Weekly Low 0.7642
Previous Monthly High 0.7743
Previous Monthly Low 0.7338
Daily Fibonacci 38.2% 0.7743
Daily Fibonacci 61.8% 0.7721
Daily Pivot Point S1 0.7715
Daily Pivot Point S2 0.7655
Daily Pivot Point S3 0.7623
Daily Pivot Point R1 0.7806
Daily Pivot Point R2 0.7838
Daily Pivot Point R3 0.7898



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

Latest Forex News

Editors’ Picks

AUD/USD keeping its head above 21DMA at 0.7673 for now

AUD/USD saw downside during Monday’s Asia Pacific and early European session, dropping momentarily as low as 0.7660. The pair broke below an uptrend linking the 28 December 2020 high with the 4, 11 and 15 January lows.


EUR/USD:Falling wedge on 4H tests bearish impulse below 1.2100

EUR/USD portrays choppy trading moves between 1.2075 and 1.2080 during Tuesday’s Asian session. Bullish chart pattern, recovering MACD keep buyers hopeful. Early February lows, 61.8% Fibonacci retracement add to the downside filters.


XAU/USD fades recovery moves below $1,850, awaits fresh clues

Gold eases from the top of an immediate $10 trading range while declining to $1,837 at the start of Tuesday’s Asian session. The yellow metal took a U-turn from the lowest since December 01 the previous day as the US dollar stepped back after refreshing the one-month high.

Gold news

Stellar awaits a massive breakout but remains inside a no-trade zone

XLM has continued to trade sideways since we last reported about it. The digital asset remains locked inside a tightening range which will eventually burst. 

Read more

US Dollar Index: Immediately to the upside comes 91.00

DXY extends the march north and already trades at shouting distance from the 91.00 barrier, or new 2021 highs.

US Dollar Index News