AUD/USD extends sideways grind above 0.68

  • China and the US reportedly have agreed to keep yuan exchange rate stable.
  • US Dollar Index rose to fresh weekly highs above 97.70 on Friday.
  • AUD/USD remains on track to post weekly losses.

After testing the 0.68 handle during the Asian session on Friday, the AUD/USD pair staged a technical recovery and has gone into a consolidation phase in the 0.6820/30 region in the second half of the day. As of writing, the pair was up 0.15% on the day at 0.6828.

Trade optimism supports antipodeans

In the absence of significant macroeconomic data releases, the pair struggles to set its next short-term direction but continued to react to headlines surrounding the United States (US)-China trade dispute.

Earlier in the day, the Chinese news outlet South China Morning Post reported that the United States (US) and China have agreed to keep the yuan exchange rate stable as part of the trade deal. Additionally, Reuters reported that China was planning to ask the US to remove tariffs in exchange for additional agricultural imports to help antipodeans stay resilient against the Greenback.

Meanwhile, the only data from the US on Friday revealed that the Univesity of Michigan's Consumer Sentiment Index in its final reading improved to 95.5 in October from 93.2 in September and helped the US Dollar Index advance to a fresh weekly high of 97.81. As of writing, the index was up 0.12% on the day at 97.78.

Ahead of Wednesday's inflation report from Australia, developments surrounding the US-China trade conflict are likely to continue to drive the pair's action.

Technical levels to watch for


Today last price 0.6827
Today Daily Change 0.0010
Today Daily Change % 0.15
Today daily open 0.6817
Daily SMA20 0.6777
Daily SMA50 0.6786
Daily SMA100 0.6854
Daily SMA200 0.6963
Previous Daily High 0.6858
Previous Daily Low 0.681
Previous Weekly High 0.6858
Previous Weekly Low 0.672
Previous Monthly High 0.6895
Previous Monthly Low 0.6687
Daily Fibonacci 38.2% 0.6828
Daily Fibonacci 61.8% 0.684
Daily Pivot Point S1 0.6799
Daily Pivot Point S2 0.678
Daily Pivot Point S3 0.6751
Daily Pivot Point R1 0.6847
Daily Pivot Point R2 0.6876
Daily Pivot Point R3 0.6895



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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD flirts with daily lows sub-1.1400

The EUR/USD pair is down to daily lows mid-US afternoon, as the dented market’s mood lifts the dollar. Upbeat US data and an on-hold ECB failed to impress investors.


GBP/USD returns to 1.2550 comfort zone

The GBP/USD pair keeps retreating from daily highs, now trading flat for the day around 1.2550. UK employment data came in better-than-anticipated but fell short of boosting sterling.


Gold prices walking a tightrope over 1,800 psychological level

Gold prices are trading a touch below the psychological $1,800 level in markets that have consolidated in a sea of fundamentals as traders await the next cue.

Gold News

Why is the crypto market falling today?

War for dominance impacts the market and heralds several days of turbulence. Fight between Bitcoin and Ethereum hurts the Altcoin segment, which is largely overbought after weeks of euphoria. Ripple is the most affected of the Top 3 and steps back into a high-risk environment.

Read more

Oil : The price action seems indecisive at these elevated levels

WTI is still in a bull trend on the chart below but at these elevated levels, it seems the price seems to be very jittery. Previously within this trend when the price moved higher the size of the bullish candles was bigger. 

Oil News