AUD/USD lifted into 0.7060 on trade hopes

AUD catching thin buying action on trade hopes.
Overall markets remain subdued for holidays.

Joshua Gibson FXStreet

AUD/USD caught a mild bid heading through the year's end trading window, rising to an intraday high of 0.7067 as investors begin to allow themselves a bit of hope for successful trade talks between the US and China.

Trump tweets from the weekend on China and trade

Though investors are looking confident heading into the break of 2019, little concrete evidence of progress on talks has yet to be seen, but the Antipodean is managing to build mild support regardless, climbing from the day's opening lows near 0.7040, though the Aussie remains firmly buried within near-term consolidation as broader markets look set to take the New Years holiday off, and Pacific-Asia investors could see a rush of cash returning to the markets for the second half of the week.

AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.706
    Today Daily change: 21 pips
    Today Daily change %: 0.298%
    Today Daily Open: 0.7039
Trends:
    Previous Daily SMA20: 0.7163
    Previous Daily SMA50: 0.7188
    Previous Daily SMA100: 0.7196
    Previous Daily SMA200: 0.736
Levels:
    Previous Daily High: 0.707
    Previous Daily Low: 0.7019
    Previous Weekly High: 0.7078
    Previous Weekly Low: 0.7014
    Previous Monthly High: 0.7345
    Previous Monthly Low: 0.7072
    Previous Daily Fibonacci 38.2%: 0.7051
    Previous Daily Fibonacci 61.8%: 0.7038
    Previous Daily Pivot Point S1: 0.7015
    Previous Daily Pivot Point S2: 0.6992
    Previous Daily Pivot Point S3: 0.6964
    Previous Daily Pivot Point R1: 0.7066
    Previous Daily Pivot Point R2: 0.7094
    Previous Daily Pivot Point R3: 0.7117

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.

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