AUD/USD hits 20-day low on NAB's mortgage rate hike

  • AUD hit a 20-day low soon before press time, having hit a high of 0.7167 earlier today.
  • NAB's mortgage rate hike has strengthened the case for a cut in official rates. 

The Aussie dollar is being offered as a mortgage rate hike by a major Australian bank is seen accentuating the housing market slowdown and force the RBA to cut rates

As of writing, the AUD/USD pair is trading at 0.7112, having clocked a low of 0.7107 - a level last seen on Jan. 4 -  soon before press time. 

The Australian currency ran into offers near 0.7150 earlier today after the National Bank of Australia announced that from next Thursday it will raise its standard variable rate for owner-occupiers repaying principal and interest by 0.12 percentage points to 5.36 percent.

The move comes months after Commonwealth Bank, Westpac, and ANZ imposed out-of-cycle hikes. 

Looking ahead, the pair may find acceptance below 0.71 on rising odds of RBA rate cut. Potential risk aversion in equities would only add to the bearish pressures around the AUD. 

AUD/USD Technical Levels


    Today Last Price: 0.711
    Today Daily change: 32 pips
    Today Daily change %: -0.45%
    Today Daily Open: 0.7142
    Daily SMA20: 0.7125
    Daily SMA50: 0.7179
    Daily SMA100: 0.717
    Daily SMA200: 0.7308
    Previous Daily High: 0.7145
    Previous Daily Low: 0.7116
    Previous Weekly High: 0.7226
    Previous Weekly Low: 0.7146
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Daily Fibonacci 38.2%: 0.7134
    Daily Fibonacci 61.8%: 0.7127
    Daily Pivot Point S1: 0.7124
    Daily Pivot Point S2: 0.7105
    Daily Pivot Point S3: 0.7095
    Daily Pivot Point R1: 0.7153
    Daily Pivot Point R2: 0.7163
    Daily Pivot Point R3: 0.7182


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

Latest Forex News

Editors’ Picks

EUR/USD flirts with 1.1100 as the dollar loses steam

The EUR/USD pair bounced from a daily low of 1.1065, as demand for the greenback receded during US trading hours. Upside caped for the shared currency amid fears of a German recession, Italian political turmoil.


GBP/USD pressures recent highs amid renewed Brexit hopes

Comments from German Chancellor Merkel gave the Pound a lift, as somehow she hinted that the EU would consider an alternative to the Irish backstop.


USD/JPY slides to 106.30 area as US T-bond yields turn south

10-year US Treasury bond yield erases Monday's recovery gains. US Dollar Index preserves strength to limit pair's losses. Risk sentiment is likely to continue to drive pair's action.


Gold retreats from daily highs, continues to trade above $1,500

The XAU/USD pair took advantage of the risk-off flows earlier in the day and erased a large portion of the losses it suffered on Monday. After touching a daily high of $1,508.45, however, the precious metal lost its strength and edged lower toward the $1,500 handle. 

Gold News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Planning the next bullish move after consolidating gains

Trading cryptos is not a one-way street – meteoric unstoppable gains belong to the past. Nevertheless, the bullish sentiment seems to prevail. Digital coins advanced on Monday and are consolidating on Tuesday. 

Read more