AUD/USD Price Analysis: The price looks set to move above 0.73 once again

AUD/USD trades 0.30% higher after a couple of tough sessions.
The price has found some support after the NFP data.

Rajan Dhall, MSTA FX Daily

AUD/USD Price Analysis

AUD/USD has pushed higher today while some of the other majors struggled. Most of the majors have recovered after the USD gained some short term strength following the US non-farm payroll data. Both the unemployment and NFP numbers beat analyst consensus estimates but many of the jobs added have been proved to be government jobs. A large amount of hiring came from Census workers, whose rolls increased by 328,000.

Looking at the chart, the price bounce off the red support level at 0.7239. The price has been moving smoothly in a channel for some time now (marked in black). This looks like a classic trend continuation structure and the price now test the previous highs. If the channel low does break then the blue horizontal line could be the next support zone at 0.7145.

Looking at the indicators, the MACD the signal lines have dipped below the mid-level and the histogram is firmly in the red. The Relative Strength Index is also bearish below the 50 line but the indicator is moving away from the oversold area.

Overall, this is still a pretty strong uptrend. The market is still making higher highs and higher lows on the higher timeframes. It is still too early to call a change in trend but a break of the channel could be an indication.

Additional levels

AUD/USD

Overview
Today last price	0.7295
Today Daily Change	0.0021
Today Daily Change %	0.29
Today daily open	0.7274

Trends
Daily SMA20	0.7225
Daily SMA50	0.7113
Daily SMA100	0.6878
Daily SMA200	0.6744

Levels
Previous Daily High	0.734
Previous Daily Low	0.7264
Previous Weekly High	0.7369
Previous Weekly Low	0.715
Previous Monthly High	0.7416
Previous Monthly Low	0.7076
Daily Fibonacci 38.2%	0.7293
Daily Fibonacci 61.8%	0.7311
Daily Pivot Point S1	0.7245
Daily Pivot Point S2	0.7217
Daily Pivot Point S3	0.7169
Daily Pivot Point R1	0.7321
Daily Pivot Point R2	0.7369
Daily Pivot Point R3	0.7397

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

AUD/USD edges higher above 0.7050 as hot CPI lifts RBA rate hike odds

The AUD/USD pair gathers strength to near 0.7055 during the Asian trading hours on Thursday. The Australian Dollar edges higher against the US Dollar as hotter inflation data bolsters expectations of Reserve Bank of Australia rate hikes. The US September Personal Consumption Expenditures inflation report will be in the spotlight later on Thursday.

USD/JPY retakes 158.00 as USD stalls the post-FOMC corrective slide

USD/JPY attracts some dip-buyers during the Asian session on Thursday, climbing back above 158.00 as the US Dollar reverses part of the post-FOMC pullback from a two-week high. Bulls, however, await key US macro data – the Advance Q3 GDP and the PCE Price Index – before positioning for further gains. Focus will then shift to the crucial BoJ policy update on Friday amid firming expectations for a December rate hike.

Gold remains sidelined just above $4,000

Gold leaves behind the recent three-day positive streak and faces renewed selling pressure near the $4,000 mark per troy ounce on Thursday. The precious metal’s daily decline comes amid marginal gains in the US Dollar and mixed US Treasury yields, while crude oil prices remain on the back foot.

Top Altcoins Price Forecast: Ripple and Solana under pressure as Hyperliquid recovers

Ripple is down over 2% on Thursday, extending losses below $1.30 and capped below crucial moving averages. Solana drops 2% so far, testing its 200-day EMA and the $100 psychological level amid mounting selling pressure.

BoJ preview: Hawkish hold

Having hiked rates by 25bp to 1.25% in September, the central messages from the BoJ were largely similar; upside price risks remained, real interest rates were still negative and further policy rate hikes should be expected.

A hot US economy is supposed to sink Gold. It didn't. Here's why

Gold (XAU/USD) remains under pressure near $4,000, as stronger-than-expected United States (US) economic data reinforce expectations of another Federal Reserve (Fed) interest rate hike in December. Economic growth is accelerating, inflation remains elevated, and borrowing costs could rise further.