AUD/USD looks to end week above 0.69 supported by broad USD weakness


  • Greenback struggled to capitalize on upbeat NFP readings.
  • ISM's report showed manufacturing activity continued to contract in October.
  • AUD/USD remains on track to post a weekly gain of nearly 100 pips.

The AUD/USD fell to 0.6890 area during the early trading hours of the American session after the Greenback gathered strength on the back of the upbeat labour market data but reversed its direction in the last hour. As of writing, the pair was up 0.35% on a daily basis at 0.6920.

US data drive USD valuation on Friday

Earlier in the day, the US Bureau of Labor Statistics reported that Nonfarm Payrolls (NFP) in the United States increased by 128,000 to beat the market expectation of 89,000. Additionally, the annual wage inflation remained steady at 3% and September NFP reading received an upward revision to 180,000 from 136,000.

Although the initial market reaction lifted the US Dollar Index to a daily high near 97.50, the fact that the Institue for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) came in at 48.3 in October to show ongoing contraction in the sector's economic activity and fell short of the market expectation of 48.9 forced the index to retrace its rally. As of writing, the index was down 0.15% on a daily basis at 97.20.

With today's upsurge, the AUD/USD pair remains on track to post a weekly gain of nearly 100 pips.

Technical levels to watch for

AUD/USD

Overview
Today last price 0.6918
Today Daily Change 0.0024
Today Daily Change % 0.35
Today daily open 0.6894
 
Trends
Daily SMA20 0.6809
Daily SMA50 0.6796
Daily SMA100 0.685
Daily SMA200 0.6957
 
Levels
Previous Daily High 0.693
Previous Daily Low 0.6883
Previous Weekly High 0.6884
Previous Weekly Low 0.6808
Previous Monthly High 0.693
Previous Monthly Low 0.667
Daily Fibonacci 38.2% 0.6901
Daily Fibonacci 61.8% 0.6912
Daily Pivot Point S1 0.6875
Daily Pivot Point S2 0.6855
Daily Pivot Point S3 0.6828
Daily Pivot Point R1 0.6922
Daily Pivot Point R2 0.6949
Daily Pivot Point R3 0.6969

 

 

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