- 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.
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.
Though, risk reactions to the global policymakers’ fight against the pandemic as well as any new surprises from either the Fed or the RBA.
Buyers will look for entry only if the pair manages to stay strong beyond 0.6435, comprising February month low.
Additional important levels
|Today last price||0.6128|
|Today Daily Change||-0.0097|
|Today Daily Change %||-1.56%|
|Today daily open||0.6225|
|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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