AUD/USD: Off 4.5-month highs as GBP/AUD hits highest since June 2016

  • AUD/USD has pulled back from 4.5-month highs despite trade optimism. 
  • GBP/AUD pair has risen to the highest level since the Brexit referendum.

AUD/USD is trimming gains amid a solid rise in the GBP/AUD pair. 

The AUD/USD pair is currently trading at 0.6914, representing marginal gains on the day, having hit a high of 0.6939 an hour ago. That was the highest level since July 26. 

The pair had jumped to 4.5-month highs on trade optimism. President Trump tweeted in the overnight trade that Washington was “very close” to a trade deal with Beijing. 

Further, news hit the wires via Reuters in Asia that China has agreed to purchase $50 billion worth of US agricultural goods. 

Fading trade tensions could bode well for the Australian economy and ease pressure on the Reserve Bank of Australia (RBA) to do more (RBA has cut rates three times this year). Even so, the AUD/USD pair has trimmed gains. 

The pair may be feeling the pull of gravity due to GBP/AUD rally (AUD selling in GBP/AUD cross). 

The GBP/AUD pair is currently trading at 1.9465, having hit a high of 1.9504 earlier today. That level was last seen in June 2016, when Britons voted to leave the European Union. 

The Pound picked up a strong bid in early Asia after the exit polls predicted a landslide victory for the incumbent Prime Minister Boris Johnson. 

Technical levels


Today last price 0.6917
Today Daily Change 0.0007
Today Daily Change % 0.10
Today daily open 0.691
Daily SMA20 0.6816
Daily SMA50 0.6823
Daily SMA100 0.6807
Daily SMA200 0.6911
Previous Daily High 0.6913
Previous Daily Low 0.6866
Previous Weekly High 0.6863
Previous Weekly Low 0.6762
Previous Monthly High 0.6929
Previous Monthly Low 0.6754
Daily Fibonacci 38.2% 0.6895
Daily Fibonacci 61.8% 0.6884
Daily Pivot Point S1 0.6879
Daily Pivot Point S2 0.6849
Daily Pivot Point S3 0.6832
Daily Pivot Point R1 0.6927
Daily Pivot Point R2 0.6944
Daily Pivot Point R3 0.6974



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

Editors’ Picks

GBP/USD surges toward 1.3150 amid upbeat UK data, USD weakness

GBP/USD has been extending its gains after the British CBI Trends figure beat expectations. Markets are pricing a BOE rate cut less aggressively. The US dollar is on the back foot across the board amid reduced coronavirus fears.


EUR/USD struggles to recover amid Trump's tariff threats

EUR/USD is trading below 1.11, close to the three-week lows, as President Trump continues threatening the EU with car tariffs. Markets remain concerned about the spreading coronavirus disease. 


Australian employment Preview: Upbeat numbers could temper rate cut expectations

Australia will release this Thursday its  December employment data. The economy is expected to have added 15.0K new jobs in the month, following a 39.9K increase in November. 

Read more

Gold Price Analysis: Intraday uptick falters near 50-hour SMA, remains vulnerable

Gold lacked any firm directional bias and seesawed between tepid gains/minor losses through the mid-European session on Wednesday.

Gold News

USD/JPY rises above 110.00, potential head-and-shoulders on 1H

Risk reset in stocks is boding well for USD/JPY.  The pair may be forming a head-and-shoulders pattern on the hourly chart. The bulls are not out of the woods yet and a break above 110.12 is needed to invalidate lower highs setup on the hourly chart.