• AUD/USD is moving sideways above 0.7100
  • The aussie consolidates gains in a risk-off session.
  • On Tuesday, all eyes will be on RBA's speakers.

Australian dollar’s recovery from last week lows at 0.7020 has stalled on Monday below 0,7160. The pair has been moving within previous ranges, supported above above 0.7100.

The Aussie consolidates amid an adverse market sentiment

The AUD/USD has been moving without a clear direction on Monday, consolidating gains in a strongly risk-averse market. The global increase of COVID-19 cases has been the main market driver today, with the investors rushing for safety following reports of record coronavirus infections in the US and France and Spain introducing the state of emergency for the second time.

The US dollar has outperformed its main peers, buoyed by strong demand for safe assets, with equity markets posting significant declines. The USD Index shows a 0.3% daily increase at the time of writing.

On the macroeconomic front, September’s preliminary Australian trade balance has shown a larger than expected surplus although the impact on the Aussie has been muted.

On Tuesday all eyes will be on the speech of the Deputy Governor of the Reserve Bank of Australia, Guy Debelle and the Assistant Governor Michele Bullock. The dovish monetary policy minutes released last week have increased the expectations of a rate cut in November. Any more evidence on that line might increase negative pressure on the Aussie.

Technical levels to watch

AUD/USD

Overview
Today last price 0.7127
Today Daily Change -0.0012
Today Daily Change % -0.17
Today daily open 0.7139
 
Trends
Daily SMA20 0.7137
Daily SMA50 0.7199
Daily SMA100 0.7107
Daily SMA200 0.6794
 
Levels
Previous Daily High 0.7159
Previous Daily Low 0.71
Previous Weekly High 0.7159
Previous Weekly Low 0.702
Previous Monthly High 0.7414
Previous Monthly Low 0.7004
Daily Fibonacci 38.2% 0.7136
Daily Fibonacci 61.8% 0.7123
Daily Pivot Point S1 0.7106
Daily Pivot Point S2 0.7074
Daily Pivot Point S3 0.7047
Daily Pivot Point R1 0.7165
Daily Pivot Point R2 0.7192
Daily Pivot Point R3 0.7224

 

 

 

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD hits fresh two-month highs amid dollar weakness

EUR/USD has hit new two-month highs above 1.1940 as the dollar resumes its decline. Optimism about the US transition and covid vaccines is weighing on the safe-haven dollar. 

EUR/USD News

GBP/USD falls toward 1.33 amid Brexit acrimony

GBP/USD is falling toward 1.33 as both the EU and the UK are busy blaming each other for an impasse in Brexit talks. The thorny issues remain fisheries, governance and setting a level playing field.

GBP/USD News

XAU/USD attempting to bounce up from $1,775 low

Gold futures accelerated heir downtrend from last week highs near $1,900, breaking below the 200-day SMA, at $1,800 area, to hit its lowest prices in nearly five months, at $1,775.

Gold news

Dollar offered ahead of the weekend

Equities are finishing the week on a firm tone, while the US dollar remains heavy. In the Asia Pacific, only Australia and India did not end the week on a firm note.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex MAJORS

Cryptocurrencies

Signatures