AUD/USD keeps the red near 3-week lows post-Chinese macro data


  • Remains depressed for the fourth session in the previous five.
  • Mixed Chinese macro data does little to influence the move.
  • Investors now eye US retail sales figures for a fresh impetus.

The AUD/USD pair managed to recover few pips from three-week lows, albeit seemed struggling to extend the momentum further beyond the 0.6900 handle post-Chinese macro data.

The pair remained under some selling pressure for the third consecutive session, also marking the fourth day of negative move in the previous five and retreated farther from last Friday’s post-NFP swing high to one-month tops.

Growing market concerns over a further escalation in the US-China trade tensions, coupled with increasing bets for further RBA rate cut move in the coming months had been weighing heavily on the China-proxy Australian Dollar.

This coupled with the recent US Dollar rebound - despite firming market expectations that the Fed will cut rates by the end of this year, further collaborated to the pair's ongoing slide to sub-0.6900 level, the lowest since May 24. 

Meanwhile, Friday's mixed Chinese macro releases - showing an unexpected decline in Fixed Asset Investment and Industrial Production, largely offset by stronger monthly retail sales figures, did little to provide any meaningful impetus.

Moving ahead, Friday's economic docket also highlights the release of US monthly retail sales, which might now be looked upon for some short-term trading opportunities later during the early North-American session.

Technical levels to watch

AUD/USD

Overview
Today last price 0.6903
Today Daily Change -0.0013
Today Daily Change % -0.19
Today daily open 0.6916
 
Trends
Daily SMA20 0.6932
Daily SMA50 0.7009
Daily SMA100 0.7064
Daily SMA200 0.7117
Levels
Previous Daily High 0.6939
Previous Daily Low 0.6901
Previous Weekly High 0.7022
Previous Weekly Low 0.6927
Previous Monthly High 0.7062
Previous Monthly Low 0.6862
Daily Fibonacci 38.2% 0.6915
Daily Fibonacci 61.8% 0.6924
Daily Pivot Point S1 0.6898
Daily Pivot Point S2 0.688
Daily Pivot Point S3 0.686
Daily Pivot Point R1 0.6936
Daily Pivot Point R2 0.6957
Daily Pivot Point R3 0.6974

 

 

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 pressured around 1.1200 amid dovish ECB comments

EUR/USD is trading around 1.1200 after ECB officials expressed concern about global growth President Draghi will speak later. Tension is rising toward the Fed decision after US retail sales surprised on Friday.

EUR/USD News

GBP/USD pressured below 1.2600, Conservative contest in focus

GBP/USD is trading below 1.2600, consolidating the losses seen on Friday after US retail sales beat expectations. The Conservative contest is heating up ahead of tomorrow's second vote.

GBP/USD News

USD/JPY: wait-and-see continues ahead of Fed

The dollar consolidates its gains against most rival, and scarce data exacerbates the quietness. USD/JPY bullish above 108.90, bearish below 108.10.

USD/JPY News

Gold: 100-month MA is a level to beat for the bulls

Gold (XAU/USD) is struggling to cut through key technical line which proved a tough nut to crack in 2018. The yellow metal rose to $1,358 on Friday, but the break above the 100-month MA.

Gold News

Gold: Signs of bullish exhaustion ahead of the Fed

Gold's rally seems to have run its course with signs of bullish exhaustion emerging on technical charts ahead of Wednesday's FOMC (Federal Open Market Committee) rate decision.

Read more

Majors

Cryptocurrencies

Signatures