AUD/USD keeps the red post-US data, but manages to hold above 0.6900 handle


   •  Thursday’s mixed Aussie employment details add to RBA rate cut bets.
   •  The recent escalation in the US-China trade tensions continues to weigh.
   •  Better than expected US economic data does little to provide any impetus.

The AUD/USD pair's attempted bounce quickly fizzled out near the 0.6930 region, albeit bulls have managed to defend the 0.6900 handle, at least for now.

With investors looking past today's mixed Australian employment details, the pair witnessed some intraday short-covering move amid a sudden turnaround in risk sentiment and the ongoing recovery in Oil and Copper prices.

However, a combination of factors - including the recent escalation in the US-China trade tensions and growing bets for an RBA rate cut, kept a lid on any strong follow-through up-move for the China-proxy Australian Dollar. 

Meanwhile, the latest leg of a downtick since the mid-European session could further be attributed to a modest pickup in the US Dollar demand, finding some support from a goodish bounce in the US Treasury bond yields.

On the economic data front, better than expected US releases - housing market data, weekly jobless claims and Philly Fed Manufacturing Index, remained supportive of a mild USD bid tone but did little to influence the price action. 

The price action now seems to suggest that the recent bearish trajectory might still be far from over, though slightly oversold conditions on the daily chart warrant some near-term consolidation or a modest pullback.

Technical levels to watch

AUD/USD

Overview
Today last price 0.6913
Today Daily Change -0.0016
Today Daily Change % -0.23
Today daily open 0.6929
 
Trends
Daily SMA20 0.7027
Daily SMA50 0.7075
Daily SMA100 0.7104
Daily SMA200 0.7153
Levels
Previous Daily High 0.6949
Previous Daily Low 0.6914
Previous Weekly High 0.7048
Previous Weekly Low 0.6947
Previous Monthly High 0.7206
Previous Monthly Low 0.6988
Daily Fibonacci 38.2% 0.6927
Daily Fibonacci 61.8% 0.6936
Daily Pivot Point S1 0.6912
Daily Pivot Point S2 0.6896
Daily Pivot Point S3 0.6877
Daily Pivot Point R1 0.6947
Daily Pivot Point R2 0.6966
Daily Pivot Point R3 0.6982

 

 

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 remains on the back foot amid ongoing trade concerns

EUR/USD is trading around 1.1150, the lowest in over two weeks. Markets are worried about US-Sino trade tensions as US companies stop working with China's Huawei. European elections are warming up.

EUR/USD News

GBP/USD consolidates its losses amid Brexit pessimism

GBP/USD is trading in the low 1.2700s, close to the lowest since January. UK PM May is set to present a new plan after cross-party talks failed and as calls for her to quit mount.

GBP/USD News

USD/JPY off multi-day tops, looks to test 110.00 ahead of Fedspeak

Japanese growth optimism in play as risk-on fades amid looming US-China trade risks. Eyes on risk sentiment, trade developments and Fed speak for fresh directives.

USD/JPY News

Gold aims to revisit 9-month old support-line near $1272

Gold is on its third negative trading day as it seesaws near $1276.50 ahead of the European open on Monday. Pessimism surrounding the US-China and the US-Iran relations could limit the bullion’s decline near trend-line support.

Gold News

Cryptos stage a Sunday surge, levels to watch – Confluence Detector

Cryptocurrencies have enjoyed a massive comeback early on Sunday, recovering most losses. The cleanup seen ahead of the weekend may be over, and it is time to look up to higher levels. Here are the levels to watch according to the Confluence Detector.

Read more

Majors

Cryptocurrencies

Signatures