AUD/USD flirts with lows near 0.7100 amid fresh trade worries, risk-off

Risk-off amid fresh trade worries, downbeat Aussie data weigh negatively
Focus on US economic release, risk sentiment for the next moves.

Dhwani Mehta FXStreet

AUD/USD is on a steady decline so far this Asian session on Friday, now struggling around the 0.71 handle, having hit fresh session lows at 0.7095 some minutes ago.

The overnight bounce in the Aussie faded at 0.7120 and from the Aussie witnessed a fresh leg lower, despite the renewed US dollar selling across the board, as the Australian flash manufacturing PMI dropped to 52.0 vs. 52.9 previous.

Moreover, a renewed risk-aversion wave gripped the Asian markets amid latest US-North Korea issue while the report that China is said to impose temporary antidumping measures on some products from the European Union (EU), Japan, South Korea and Indonesia further dented the risk sentiment, with the higher-yielding Treasury yields continuing to remain in the red following the Fed’s outright dovishness.

Attention now turns towards the US macro news due later on Friday, including Markit manufacturing and services PMI reports, existing home sales and wholesale inventories, for fresh trading impetus. In the meantime, the USD dynamics and risk trends will continue to have a major bearing on the spot, as markets keep an eye on fresh trade-related developments.

AUD/USD Technical Levels

AUD/USD

Overview
Today last price	0.7105
Today Daily Change	-0.0005
Today Daily Change %	-0.07
Today daily open	0.711

Trends
Daily SMA20	0.7093
Daily SMA50	0.7132
Daily SMA100	0.716
Daily SMA200	0.7217

Levels
Previous Daily High	0.7168
Previous Daily Low	0.7089
Previous Weekly High	0.7099
Previous Weekly Low	0.7026
Previous Monthly High	0.7285
Previous Monthly Low	0.7053
Daily Fibonacci 38.2%	0.7119
Daily Fibonacci 61.8%	0.7138
Daily Pivot Point S1	0.7077
Daily Pivot Point S2	0.7043
Daily Pivot Point S3	0.6998
Daily Pivot Point R1	0.7156
Daily Pivot Point R2	0.7202
Daily Pivot Point R3	0.7236

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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