AUD/USD extends rebound above 0.7100

Greenback goes into consolidation following last Friday's rally.
Chinese premier Li says China can resist downwards pressure on the economy.

Eren Sengezer FXStreet

After posting modest losses on Friday and closing flat on the weekly chart, the AUD/USD pair gained traction on Monday and was last seen trading near 0.7105, where it was up 0.32% on a daily basis.

The improved market sentiment on Monday seems to be helping the risk-sensitive AUD gather some strength. Moreover, Chinese premier Li Keqiang earlier today said that China had the ability to resist downward pressure on the economy to provide additional support to the currency. There won't be any significant macroeconomic data releases from Australia this week and the market's risk perception and the USD's performance are likely to impact the pair's price action.

Ahead of Chicago Fed's National Activity Index and Dallas Fed's Manufacturing Index, the US Dollar Index continues to fluctuate in a tight daily range a little above 96.50. Moreover, the RBA's Assistant Governor Luci Ellis is scheduled to deliver a speech later in the day.

Key technical levels

AUD/USD

Overview
Today last price	0.7105
Today Daily Change	0.0023
Today Daily Change %	0.32
Today daily open	0.7082

Trends
Daily SMA20	0.7091
Daily SMA50	0.713
Daily SMA100	0.7159
Daily SMA200	0.7215

Levels
Previous Daily High	0.712
Previous Daily Low	0.7075
Previous Weekly High	0.7168
Previous Weekly Low	0.7057
Previous Monthly High	0.7285
Previous Monthly Low	0.7053
Daily Fibonacci 38.2%	0.7092
Daily Fibonacci 61.8%	0.7103
Daily Pivot Point S1	0.7065
Daily Pivot Point S2	0.7047
Daily Pivot Point S3	0.702
Daily Pivot Point R1	0.711
Daily Pivot Point R2	0.7137
Daily Pivot Point R3	0.7155

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

EUR/USD trims gains, hovers around 1.1900 post-US data

EUR/USD trades slightly on the back foot around the 1.1900 region in a context dominated by the resurgence of some buying interest around the US Dollar on turnaround Tuesday. Looking at the US docket, Retail Sales disappointed expectations in December, while the ADP 4-Week Average came in at 6.5K.

GBP/USD comes under pressure near 1.3680

The better tone in the Greenback hurts the risk-linked complex on Tuesday, prompting GBP/USD to set aside two consecutive days of gains and trade slightly on the defensive below the 1.3700 mark. Investors, in the meantime, keep their attention on key UK data due later in the week.

Gold loses some traction, still above $5,000

Gold faces some selling pressure on Tuesday, surrendering part of its recent two-day advance although managing to keep the trade above the $5,000 mark per troy ounce. The daily pullback in the precious metal comes in response to the modest rebound in the US Dollar, while declining US Treasury yields across the curve seem to limit the downside.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.