AUD/USD pays a little heed to China’s data dump


  • AUD/USD bounces off fresh multi-year low despite disappointment from China’s February month Retail Sales, Industrial Production.
  • RBA signaled QE after the Fed surprised markets.
  • Risk-tone remains under pressure amid the global central bankers’ fight against the coronavirus.

AUD/USD pays a little heed to China’s February month data dump as the quote stays unfazed around 0.6130 after numbers from the largest customer disappoint during early Monday.

China’s February month Retail Sales plunge 20.5% compared to 1.5% market expectations and 6.9% earlier readout whereas Industrial Production shrink 13.5% versus 0.8% forecast and 8.0% prior.

Read: Breaking: China’s Feb data dump: Awful Retail Sales and Industrial Production numbers – Aussie unfazed

The pair earlier reacted to the market’s shock from the Fed’s surprise rate cut, the second in the month, which was preceded by the RBNZ’s rate cut and likely followed by the BOJ’s monetary policy easing.

Investors will now keep eyes on Thursday’s RBA moves as the Aussie central bank recently showed readiness to purchase government bonds and take further measures.

Though, risk reactions to the global policymakers’ fight against the pandemic as well as any new surprises from either the Fed or the RBA.

Technical Analysis

Buyers will look for entry only if the pair manages to stay strong beyond 0.6435, comprising February month low.

Additional important levels

Overview
Today last price 0.6128
Today Daily Change -0.0097
Today Daily Change % -1.56%
Today daily open 0.6225
 
Trends
Daily SMA20 0.656
Daily SMA50 0.6704
Daily SMA100 0.6786
Daily SMA200 0.6819
 
Levels
Previous Daily High 0.6326
Previous Daily Low 0.6122
Previous Weekly High 0.6686
Previous Weekly Low 0.6122
Previous Monthly High 0.6775
Previous Monthly Low 0.6434
Daily Fibonacci 38.2% 0.62
Daily Fibonacci 61.8% 0.6248
Daily Pivot Point S1 0.6122
Daily Pivot Point S2 0.602
Daily Pivot Point S3 0.5918
Daily Pivot Point R1 0.6327
Daily Pivot Point R2 0.6429
Daily Pivot Point R3 0.6531

 

 

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