AUD/USD fails to extend rebound, edges lower toward 0.6500

  • AUD/USD remains under bearish pressure for second straight day.
  • Sour market mood dampens demand for risk-sensitive currencies on Friday.
  • US Dollar Index clings to recovery gains near 99.80.

The AUD/USD pair posted modest daily losses on Thursday after closing the previous three days in the positive territory. With financial markets turning risk-averse on Friday, the pair continued to push lower.

Although it seemed as if the pair found support near 0.6510 during the European session, the recovery attempt remained short-lived. As of writing, AUD/USD was down 0.7% on the day at 0.6518.

USD looks to end week on strong footing

The USD capitalized on risk-off flows on Friday and weighed on the pair. The US Dollar Index, which tracks the greenback's performance against a basket of six major currencies, is now up 0.4%on a daily basis at 99.82. In the absence of significant macroeconomic data releases, the risk sentiment is likely to continue to drive the pair's action.

Earlier in the day, Dr Anthony Fauci, director of the US National Institute of Allergy and Infectious Diseases, said the early results from the phase 1 study of Moderna’s Covid-19 vaccine were a good sign. The initial reaction to this comment helped S&P 500 futures turn positive on the day but Wall Street's main indexes don't seem to be looking to open decisively higher.

Meanwhile, heightened US-China tensions also make it difficult for China-proxy AUD to stay resilient against its major rivals. During the Asian session, China’s Foreign Ministry in a statement reiterated that China will fight back if the US tries to oppress them. 

Technical levels to watch for


Today last price 0.6516
Today Daily Change -0.0049
Today Daily Change % -0.75
Today daily open 0.6565
Daily SMA20 0.6481
Daily SMA50 0.628
Daily SMA100 0.6499
Daily SMA200 0.6662
Previous Daily High 0.66
Previous Daily Low 0.6548
Previous Weekly High 0.6562
Previous Weekly Low 0.6401
Previous Monthly High 0.657
Previous Monthly Low 0.598
Daily Fibonacci 38.2% 0.6568
Daily Fibonacci 61.8% 0.658
Daily Pivot Point S1 0.6542
Daily Pivot Point S2 0.6519
Daily Pivot Point S3 0.6489
Daily Pivot Point R1 0.6594
Daily Pivot Point R2 0.6624
Daily Pivot Point R3 0.6647





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

Editors’ Picks

EUR/USD chops around amid end-of-month flows, ahead of Trump

EUR/USD is battling 1.11, close to the two-month highs amid choppy trading. Hopes for a fiscal boost in Europe and mixed satisfactory data have supported the currency pair. , Sino-American tensions are rising and investors await President Trump's China announcement.


GBP/USD advances amid US dollar weakness, shrugging off concerns

GBP/USD is trading above 1.23, edging higher amid US dollar weakness and Britain's gradual reopening. Intensifying Sino-American tensions and the Brexit impasse are ignored. 


Cryptocurrencies: $348M in matured derivatives boost the market

Futures and options contracts' expiration brings a wave of volatility to the crypto market. Ethereum takes advantage and attacks resistances in the market dominance chart, Bitcoin goes back. Ripple disappoints despite regaining the third place in market capitalization.

Read more

Canada's economy falls by 8.2% annualized in Q1, better than expected, USD/CAD shakes

The Canadian economy squeezed by an annualized rate of 8.2% in the first quarter of 2020, better than -10% expected. Quarterly, Gross Domestic Product (GDP) squeezed by 2.1%. Most of the downfall occurred in March, with a drop of 7.2%, better than 8.5% projected. 

Read more

WTI drops 4% and eyes $32 mark amid risk-off, weakening demand

The selling pressure around WTI (July futures on Nymex) accelerates following the break below the 33 level, as bears now target the 32 support zone heading into the key US macro data and US President Donald Trump’s response to the Hong Kong issue.

Oil News