AUD/USD loses its recovery momentum near 0.6830 as US Dollar rebounds

AUD/USD loses ground near 0.6830 amid the quiet session on Friday.
US Initial Jobless Claims grew to 218,000, worse than expected.
The RBA's first board meeting for 2024 will be held on February 5 and 6.
The Chicago Purchasing Managers' Index for December is due on Friday.

Lallalit Srijandorn FXStreet

The AUD/USD pair loses its recovery momentum during the early Asian session on Friday. The US Dollar (USD) bounces off the lowest level since July near 100.85 and then recovers to 101.25. The market is likely to be quiet on the last trading day of 2023 due to the light economy data and the holiday mode. AUD/USD currently trades around 0.6830, down 0.02% on the day.

Data released on Thursday showed that the US Initial Jobless Claims for the week ending December 23 rose to 218,000, worse than the market expectation of 210,000. Continuing Claims came in at 1.875 million, the highest level in four weeks. Finally, Pending Home Sales remained flat in November, below the market consensus of a 1% increase.

As per the minutes of the Reserve Bank of Australia (RBA), the members agreed to wait for further data to evaluate how the risk balance was evolving, however, there had been encouraging signs of progress towards the board's objectives and that this needed to continue. Traders will look for evidence that inflation is continuing to drop towards the RBA target in the quarterly Consumer Price Index (CPI) coming on January 31. The RBA's first board meeting for 2024 will be held on February 5 and 6.

Moving on, the Chicago Purchasing Managers' Index for December will be released later on Friday. However, this figure might not have a significant impact on the market amid the light trading volume.

AUD/USD

Overview
Today last price	0.6828
Today Daily Change	-0.0019
Today Daily Change %	-0.28
Today daily open	0.6847

Trends
Daily SMA20	0.6682
Daily SMA50	0.6542
Daily SMA100	0.6478
Daily SMA200	0.6581

Levels
Previous Daily High	0.6852
Previous Daily Low	0.6818
Previous Weekly High	0.6825
Previous Weekly Low	0.669
Previous Monthly High	0.6677
Previous Monthly Low	0.6318
Daily Fibonacci 38.2%	0.6839
Daily Fibonacci 61.8%	0.6831
Daily Pivot Point S1	0.6826
Daily Pivot Point S2	0.6805
Daily Pivot Point S3	0.6792
Daily Pivot Point R1	0.686
Daily Pivot Point R2	0.6872
Daily Pivot Point R3	0.6893

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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