AUD/USD headed to 0.73 handle longer term?

Ross J Burland FXStreet

Currently, AUD/USD is trading at 0.7541, down 0.00% on the day, having posted a daily high at 0.7544 and low at 0.7538.

AUD/USD is a consolidation of the slide from territory above 0.7620 with a resurgence of the US dollar that was basing again overnight. The AUD has been rattled by lower commodity prices of late as well. Analysts at Westpac explained that the firmer US dollar has capped AUD/USD recently, and further slippage to the 0.7520 area is possible today.

AUD/USD 1-3 month:

The analysts at Westpac suggest that the resilience of US equity markets to the distractions of the Trump administration is a positive backdrop for risk-sensitive AUD"

"Chinese markets are of course less helpful as the deleveraging push continues, but the uptrend in steel prices suggests potential for recovery in iron ore prices. The rebound in Australian job creation keeps RBA rate cut talk at bay. But multi-month, we expect the ongoing rise in US interest rates to chip away at AUD/USD, leaving it around 0.73 by Q3."

AUD/USD levels

AUDUSD: Short term momentum indicators are showing mildly heavy

Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, the 20 SMA has turned strongly bearish above the current level, now converging with the 23.6% retracement of the same rally. "Technical indicators decelerated, but remain near oversold readings, favoring a decline towards 0.7470, the 61.8% retracement of the mentioned rally."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD looks offered below 1.1900

EUR/USD keeps its bearish tone unchanged ahead of the opening bell in Asia, returning to the sub-1.1900 region following a firmer tone in the US Dollar. Indeed, the pair reverses two consecutive daily gains amid steady caution ahead of Wednesday’s key US Nonfarm Payrolls release.

GBP/USD slips back to daily lows near 1.3640

GBP/USD drops to daily lows near 1.3640 as sellers push harder and the Greenback extends its rebound in the latter part of Tuesday’s session. Looking ahead, the combination of key US releases, including NFP and CPI, alongside important UK data, should keep the pound firmly in focus over the coming days.

Gold the battle of wills continues with bulls not ready to give up

Gold remains on the defensive and approaches the key $5,000 region per troy ounce on Tuesday, giving back part of its recent two day. The precious metal’s pullback unfolds against a firmer tone in the US Dollar, declining US Treasury yields and steady caution ahead of upcoming key US data releases.

Bitcoin's downtrend caused by ETF redemptions and AI rotation: Wintermute

Bitcoin's (BTC) fall from grace since the October 10 leverage flush has been spearheaded by sustained ETF outflows and a rotation into the AI narrative, according to Wintermute.

Dollar drops and stocks rally: The week of reckoning for US economic data

Following a sizeable move lower in US technology Stocks last week, we have witnessed a meaningful recovery unfold. The USD Index is in a concerning position; the monthly price continues to hold the south channel support.

XRP holds $1.40 amid ETF inflows and stable derivatives market

Ripple trades under pressure, with immediate support at $1.40 holding at the time of writing on Tuesday. A recovery attempt from last week’s sell-off to $1.12 stalled at $1.54 on Friday, leading to limited price action between the current support and the resistance.