AUD/USD extends slide to mid-0.7600s as USD starts new week on strong footing


  • AUD/USD is falling for the fourth straight trading day.
  • US Dollar Index touched its highest level since late November.
  • Rising US Treasury bond yields continue to support the greenback.

The AUD/USD pair closed the last three days of the previous week deep in the negative territory and extended its slide on Monday. After touching a session low of 0.7637, the pair recovered modestly and was last seen trading at 0.7663, where it was down 0.3% on the day. 

DXY continues to push higher

The broad-based USD strength remains the primary market theme at the start of the week. Supported by a more-than-2% increase in the 10-year US Treasury bond yield, the US Dollar Index (DXY) touched its highest level since late November at 92.30 on Monday. Currently, the DXY is up 0.25% on the day at 92.20.

Earlier in the day, the trade report from China revealed that Exports in February surged by 60.6% on a yearly basis, compared to analysts' estimate for an increase of 38.9%, but this data failed to provide a boost to China-proxy AUD. 

There won't be any significant macroeconomic data releases from the US in the remainder of the day and investors will keep a close eye on T-bond yields. Meanwhile, the S&P 500 Futures are down 0.55% on the day, suggesting that the USD is likely to preserve its strength in the second half of the day.

On Tuesday, the National Australia Bank's Business Confidence and Business Conditions data will be watched closely by market participants.

Technical levels to watch for

AUD/USD

Overview
Today last price 0.766
Today Daily Change -0.0033
Today Daily Change % -0.43
Today daily open 0.7693
 
Trends
Daily SMA20 0.7788
Daily SMA50 0.7734
Daily SMA100 0.7532
Daily SMA200 0.7314
 
Levels
Previous Daily High 0.7732
Previous Daily Low 0.7622
Previous Weekly High 0.7838
Previous Weekly Low 0.7622
Previous Monthly High 0.8008
Previous Monthly Low 0.7562
Daily Fibonacci 38.2% 0.7664
Daily Fibonacci 61.8% 0.769
Daily Pivot Point S1 0.7632
Daily Pivot Point S2 0.7572
Daily Pivot Point S3 0.7522
Daily Pivot Point R1 0.7743
Daily Pivot Point R2 0.7793
Daily Pivot Point R3 0.7853

 

 

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