AUD/USD off 17-month tops, still above 0.7200 ahead of US data

  • AUD/USD stalls the upside in Europe.
  • USD supply, firmer S&P 500 Futures and upbeat China PMI support.
  • Focus shifts to US stimulus negotiations, US data for fresh incentives.

The overnight recovery in AUD/USD regained traction above 0.7200, as the bulls challenged 17-month highs near 0.7230 amid unabated US dollar selling seen across the board.

At the press time, the spot retraces to 0.7210, still adding 0.25% on the day. The aussie remains on track for the fourth straight monthly gains.

The greenback remains sold-off into growing political and economic concerns, courtesy of the intensifying coronavirus spread across the US, which has translated into staling economic recovery and made President Donald Trump float the idea of delaying the November election.

Further, record-low US Treasury real yields (inflation-adjusted) combined with the lack of progress on the US fiscal aid and month-end flows exacerbate the pain the dollar.

On the AUD-side of the equation, the aussie benefits from the upbeat official Chinese Manufacturing PMI data, which showed that the manufacturing sector expansion is picking up pace. Also, the rebound in the US S&P 500 futures is boding well for the higher-yielding currency. Not to forget the renewed surge in gold prices, which renders positive for the resource-linked aussie.

Attention now turns towards US Personal Spending and Income data and US stimulus talks for fresh trading impetus on the pair.

AUD/USD technical levels

The immediate upside will likely face stiff hurdle 0.7228 (17-month high). The next resistance is aligned at 0.7250 (psychological level). On the flip side, the immediate support is seen at 0.7180/71 (5-DMA/ pivot point), below which the 10-DMA at 0.7138 could be tested.

AUD/USD additional levels


Today last price 0.7210
Today Daily Change 0.0016
Today Daily Change % 0.22
Today daily open 0.7195
Daily SMA20 0.7041
Daily SMA50 0.6923
Daily SMA100 0.6601
Daily SMA200 0.6697
Previous Daily High 0.7198
Previous Daily Low 0.712
Previous Weekly High 0.7184
Previous Weekly Low 0.6972
Previous Monthly High 0.7065
Previous Monthly Low 0.6648
Daily Fibonacci 38.2% 0.7168
Daily Fibonacci 61.8% 0.715
Daily Pivot Point S1 0.7144
Daily Pivot Point S2 0.7094
Daily Pivot Point S3 0.7067
Daily Pivot Point R1 0.7222
Daily Pivot Point R2 0.7249
Daily Pivot Point R3 0.7299



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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Latest Forex News

Editors’ Picks

AUD/USD weaker ahead of RBA’s monetary policy decision

The Aussie is weak, despite receding dollar’s demand and the robust performance of US indexes. Coronavirus developments hit the commodity-linked currency ahead of the RBA.


Gold: This just might be as good as it gets for gold

The price of gold is trading at $1,975 within a range of between $1,960.54 and $1,986.76 at the time of writing, virtually flat on the day in consolidation having eeked out a fresh all-time high.

Gold News

USD/JPY struggling to retain the 106.00 level

The USD/JPY pair traded as high as 106.46 on Monday but struggles to retain gains above the 106.00 level amid lack of dollar’s demand.


Ethereum on its way to regaining $400 while BNB hit a new high at $22.5

BTC/USD is more stable than other coins right now but has been able to recover from its crash towards $10,500. It is currently trading at $11,369 and faces very little resistance until $14,000.

Read more

WTI drops below $40 on demand worries, OPEC+ output increase

Crude oil prices posted losses last week and seem to be struggling to shake off the bearish pressure on Monday. As of writing, the barrel of West Texas Intermediate (WTI) was trading at $39.85, losing 1.5% on a daily basis.

Oil News