- Risk-off mood weighs on the AUD on Monday.
- Greenback extends slide for the second straight day.
- Coming up: National Australia Bank's business sentiment report.
After touching a 10-day high above 0.72 earlier in the day, the AUD/USD reversed its course and fell into the negative territory in the NA session despite the broad-based USD weakness. As of writing, the pair was down 0.24% on the day at 0.7167.
With investors pricing a dovish FOMC statement following last week's reports about the Fed possibly ending its balance sheet reduction scheme earlier than initially planned, the greenback struggled to find demand on Monday. The US Dollar Index, which tracks the greenback against a basket of six major currencies, slumped to a 13-day low of 95.64 earlier in the session and was last seen down 0.13% on a daily basis at 95.68.
However, resurfacing fears about the economic slowdown in China after Caterpillar said that the company's disappointing fourth-quarter revenue figures were due to weak demand from China weighed on the AUD. Additionally, heavy losses seen in major global equity indexes on Monday put additional weigh on the risk-sensitive AUD's shoulders.
In the early hours of the Asian session, National Australia Bank will publish its business sentiment report, which will include Business Conditions and Business Confidence indexes.
Key technical levels
AUD/USD
Overview:
Today Last Price: 0.7167
Today Daily change %: -0.24%
Today Daily Open: 0.7184
Trends:
Daily SMA20: 0.7135
Daily SMA50: 0.7172
Daily SMA100: 0.717
Daily SMA200: 0.7302
Levels:
Previous Daily High: 0.7185
Previous Daily Low: 0.7076
Previous Weekly High: 0.7185
Previous Weekly Low: 0.7076
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Daily Fibonacci 38.2%: 0.7143
Daily Fibonacci 61.8%: 0.7117
Daily Pivot Point S1: 0.7111
Daily Pivot Point S2: 0.7039
Daily Pivot Point S3: 0.7002
Daily Pivot Point R1: 0.7221
Daily Pivot Point R2: 0.7258
Daily Pivot Point R3: 0.733
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