AUD/USD hangs near 1-month lows, below mid-0.6800s


  • AUD/USD on Thursday was rejected near the very important 200-DMA.
  • Concerns over the outbreak of coronavirus benefitted the greenback.
  • Traders now look forward to the US flash PMI prints for some impetus.

The AUD/USD pair lacked any firm directional bias on Friday and remained well within the striking distance of over one-month lows set earlier this week.

The pair on Thursday failed to capitalize on its goodish intraday positive move – led by stronger Australian employment details – and once again faced rejection near the very important 200-day SMA.

Aussie struggles to register any meaningful recovery

Concerns over China's coronavirus outbreak benefitted the US dollar's perceived safe-haven and turned out to be one of the key factors that prompted some selling around the China-proxy Australian dollar.

The greenback was further supported by the post-ECB weakness in the shared currency and a modest pickup in the US Treasury bond yields during the Asian session on the last trading day of the week.

Meanwhile, a slightly positive tone around equity markets extended some support to perceived riskier currencies – like the aussie – and helped limit deeper losses, at least for the time being.

Moving ahead, market participants now look forward to Friday's thin US economic docket – featuring the release of flash US Manufacturing and Services PMIs – for some short-term impetus.

Technical levels to watch

EUR/USD

Overview
Today last price 1.1051
Today Daily Change -0.0005
Today Daily Change % -0.05
Today daily open 1.1056
 
Trends
Daily SMA20 1.114
Daily SMA50 1.1104
Daily SMA100 1.1073
Daily SMA200 1.1133
 
Levels
Previous Daily High 1.1109
Previous Daily Low 1.1036
Previous Weekly High 1.1173
Previous Weekly Low 1.1086
Previous Monthly High 1.124
Previous Monthly Low 1.1002
Daily Fibonacci 38.2% 1.1064
Daily Fibonacci 61.8% 1.1081
Daily Pivot Point S1 1.1025
Daily Pivot Point S2 1.0994
Daily Pivot Point S3 1.0952
Daily Pivot Point R1 1.1098
Daily Pivot Point R2 1.114
Daily Pivot Point R3 1.1171

 

 

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