AUD/USD flat-lined near 0.7150 amid Good Friday light trading


  • Holiday-thinned markets, US dollar pullback keep the Aussie side-lined.
  • Technical set up remains in favor of the bears.
  • US housing data unlikely to offer any fresh trading impetus.

The AUD/USD pair extends its consolidative phase near the midpoint of the 0.71 handle, having stalled its overnight minor bounce, in the wake of Easter holiday-thinned trades and a lack of fresh catalysts.  

The spot managed to recover some ground from two-day lows of 0.7136 reached after the US dollar rallied hard across its main competitors following a big beat on the US retail sales data that eased concerns over the US economic slowdown. Bullish US data offset the strong Australian jobs report, and hence, the Aussie reversed the entire rally fuelled by the Australian data to the 0.7200 level.

Despite the recent bounce, the major remains exposed to further downside risks in the near-term, as the technical set up suggests a bearish bias, especially after “the Aussie pair confirmed the “rising wedge” bearish technical formation on Thursday when it slipped beneath the pattern support, at 0.7160 now. With this, the quote is likely to extend its south-run towards 0.7070. Though, an ascending trend-line stretched since early March might offer strong intermediate support at 0.7085,” as explained by FXStreet’s Analyst Anil Panchal.

Looking ahead, thin liquidity and minimal volatility could exaggerate the moves and the pair could test the 0.7100 support if the US dollar resumes its recent upside heading into the US housing starts and building permits data due later today. The data is likely to have limited impact on the markets.

AUD/USD Technical Levels

AUD/USD

Overview
Today last price 0.7148
Today Daily Change -0.0001
Today Daily Change % -0.01
Today daily open 0.7149
 
Trends
Daily SMA20 0.7124
Daily SMA50 0.711
Daily SMA100 0.7135
Daily SMA200 0.719
Levels
Previous Daily High 0.72
Previous Daily Low 0.7136
Previous Weekly High 0.7193
Previous Weekly Low 0.7087
Previous Monthly High 0.7168
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.716
Daily Fibonacci 61.8% 0.7175
Daily Pivot Point S1 0.7123
Daily Pivot Point S2 0.7097
Daily Pivot Point S3 0.7059
Daily Pivot Point R1 0.7187
Daily Pivot Point R2 0.7226
Daily Pivot Point R3 0.7252

 

 

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.

Feed news

Editors’ Picks

EUR/USD holds its ground amid mixed EU election results

EUR/USD is stable around 1.1200 amid mixed EU elections in which main parties lost ground to both centrist and extreme ones.  Trump said he hopes for a deal with China. Liquidity is thin due to a UK holiday.

EUR/USD News

GBP/USD ticks up as Brexit and Remain parties are balanced

GBP/USD is trading around 1.2750, recovering. Farage's Brexit party won the EU elections but a trio of Remain parties matched him. Uncertainty remains high after PM May's resignation announcement.

GBP/USD News

USD/JPY keeps gains near 109.50 amid light trading

The USD/JPY pair is on the bids near 109.50 ahead of Europe open on Monday. The 110.55/60 resistance-confluence including 100-day simple moving average (SMA) and 23.6% Fibonacci retracement of January to April rise acts as strong upside cap.

USD/JPY News

The Evolution of Three Issues are Key in the Week Ahead

As May winds down, the light economic calendar will allow investors to take their cues from the evolution of three disruptive forces--trade, Brexit and the US economy.  With actions against Huawei and possibly a handful of Chinese surveillance equipment producers, the US raised the stakes.

Read more

Gold aims to revisit $1289/90 despite UK/US holiday

With the pessimism surrounding global trade developments and greenback weakness joining EU election results, Gold prices are on the bids near $1287.30 while heading into the European session on Monday.

Gold News

Editors' pick

EUR/USD holds its ground amid mixed EU election results

EUR/USD is stable around 1.1200 amid mixed EU elections in which main parties lost ground to both centrist and extreme ones.  Trump said he hopes for a deal with China. Liquidity is thin due to a UK holiday.

EUR/USD News

GBP/USD ticks up as Brexit and Remain parties are balanced

GBP/USD is trading around 1.2750, recovering. Farage's Brexit party won the EU elections but a trio of Remain parties matched him. Uncertainty remains high after PM May's resignation announcement.

GBP/USD News

USD/JPY keeps gains near 109.50 amid light trading

The USD/JPY pair is on the bids near 109.50 ahead of Europe open on Monday. The 110.55/60 resistance-confluence including 100-day simple moving average (SMA) and 23.6% Fibonacci retracement of January to April rise acts as strong upside cap.

USD/JPY News

The Evolution of Three Issues are Key in the Week Ahead

As May winds down, the light economic calendar will allow investors to take their cues from the evolution of three disruptive forces--trade, Brexit and the US economy.  With actions against Huawei and possibly a handful of Chinese surveillance equipment producers, the US raised the stakes.

Read more

Gold aims to revisit $1289/90 despite UK/US holiday

With the pessimism surrounding global trade developments and greenback weakness joining EU election results, Gold prices are on the bids near $1287.30 while heading into the European session on Monday.

Gold News

eur/gbp

central banks

eur/usd

gbp/usd

usd/jpy

aud/usd

Signatures

bitcoin

ethereum

ripple


  •  
  •  
  •  
  •  
  •