AUD/USD holds positive ground above 0.6730, eyes on US GDP data

AUD/USD drifts higher near 0.6732 despite the firmer USD.
November’s US Existing Home Sales were better than expected, the December’s CB Consumer Confidence grew by the most since early 2021.
The RBA meeting minutes showed the central bank opened the door for further tightening amid encouraging signs of falling inflation.
Market players await US weekly Jobless Claims, Q3 GDP, and the Philly Fed Manufacturing Survey.

Lallalit Srijandorn FXStreet

The AUD/USD pair trades on a stronger note during the early Asian session on Thursday. The pair snaps its two-day losing streak on the day despite the upbeat US economic data and the modest rebound in the US Dollar (USD). AUD/USD currently trades near 0.6732, up 0.10% on the day.

US Data released on Wednesday came in better than the market expectation. The US Existing Home Sales rose to an annual rate of 3.82M in November, above the market consensus of 3.77M. Meanwhile, CB Consumer Confidence for December grew by the most since early 2021, climbing from 101.0 to 110.07.

On the Aussie front, the minutes of the Reserve Bank of Australia (RBA) showed a hawkish tone. The central bank opened the door for further tightening amid the encouraging signs of falling inflationary pressures across the economy. However, it will depend on the incoming data and the evolving assessment of risks.

Traders will monitor the US weekly Jobless Claims, a new estimate for Gross Domestic Product (GDP) for the third quarter (Q3), and the Philly Fed Manufacturing Survey. On Friday, the attention will shift to November’s Core Personal Consumption Expenditures Price Index (PCE). These figures could give a clear direction to the AUD/USD pair.

AUD/USD

Overview
Today last price	0.6731
Today Daily Change	-0.0031
Today Daily Change %	-0.46
Today daily open	0.6762

Trends
Daily SMA20	0.662
Daily SMA50	0.6487
Daily SMA100	0.6463
Daily SMA200	0.6578

Levels
Previous Daily High	0.6775
Previous Daily Low	0.6701
Previous Weekly High	0.6729
Previous Weekly Low	0.654
Previous Monthly High	0.6677
Previous Monthly Low	0.6318
Daily Fibonacci 38.2%	0.6746
Daily Fibonacci 61.8%	0.6729
Daily Pivot Point S1	0.6717
Daily Pivot Point S2	0.6672
Daily Pivot Point S3	0.6643
Daily Pivot Point R1	0.6791
Daily Pivot Point R2	0.682
Daily Pivot Point R3	0.6865

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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