AUD/USD in play below 0.7200 as slowdown fears grip broader markets

The Aussie opens the new week on thin trading ahead of RBA's Tuesday showing.
Investor confidence remains weak in the early Asian market session.

Joshua Gibson FXStreet

The AUD/USD pairing has opened the new trading week quietly, sticking close to where it closed out last Friday near 0.7170. Declining economic figures from China and investor concerns about a growing global slowdown saw the Aussie weaken late last week into a fresh bottom at 0.7150, and the new trading week is seeing a quiet start as investors gear up for the new week.

Saturday saw China's House Price Index clip into 9.3% versus the previous 8.6%, and the improved reading is helping to keep early-Monday investor confidence on-balance after last week's Retail Sales and Industrial Production misses. Monday itself sees a limited start on the calendar with no meaningful data slated for the early session, though Tuesday will be bringing another round of the Reserve Bank of Australia's (RBA) Meeting Minutes, and declining Australian/Chinese economic data in recent weeks could push the RBA further into their dovish trench, which would further pull investor confidence out of the Aussie.

AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.7172
    Today Daily change: -7.0 pips
    Today Daily change %: -0.0975%
    Today Daily Open: 0.7179
Trends:
    Previous Daily SMA20: 0.7253
    Previous Daily SMA50: 0.7192
    Previous Daily SMA100: 0.7227
    Previous Daily SMA200: 0.7395
Levels:
    Previous Daily High: 0.7231
    Previous Daily Low: 0.7151
    Previous Weekly High: 0.7247
    Previous Weekly Low: 0.7151
    Previous Monthly High: 0.7345
    Previous Monthly Low: 0.7072
    Previous Daily Fibonacci 38.2%: 0.7182
    Previous Daily Fibonacci 61.8%: 0.7201
    Previous Daily Pivot Point S1: 0.7143
    Previous Daily Pivot Point S2: 0.7107
    Previous Daily Pivot Point S3: 0.7063
    Previous Daily Pivot Point R1: 0.7223
    Previous Daily Pivot Point R2: 0.7267
    Previous Daily Pivot Point R3: 0.7303

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD faces some resistance near 100-SMA on H4, around 1.1830 zone

The EUR/USD pair gains some follow-through positive traction for the second consecutive day and climbs to the 1.1830 region during the Asian session on Thursday. The US Dollar remains on the back foot amid concerns about the economic fallout from US President Donald Trump's erratic trade policies and acts as a tailwind for spot prices.

GBP/USD extends recovery to near 20-day EMA as US Dollar weakens

The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.

Gold struggle with $5,200 extends ahead of more US-Iran talks

Gold is replicating the recovery moves seen in Wednesday’s Asian trading early Thursday, as buyers continue to flirt with the $5,200 level. Sustained US Dollar weakness and looming US-Iran talks aid the bright metal’s rebound.

Top Crypto Gainers: Polkadot, Near Protocol, Uniswap lead market rebound

Altcoins, such as Polkadot, Near Protocol, and Uniswap, are leading gains over the last 24 hours as Bitcoin jumped 6% on Wednesday. The altcoins are holding steady at press time on Thursday following a rebound the previous day, testing the waters around their 50-day Exponential Moving Average.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.