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AUD/USD rebounds above 0.6300 as USD slides

  • Dollar loses momentum late on Friday after WSJ report.
  • AUD/USD rises from multi-day lows to 0.6330.

The AUD/USD turned positive for the day after rebounding more than a hundred pips from four-day lows. The pair rose from near 0.6200 to 0.6333, hitting a fresh daily high on the back of a weaker dollar.

The greenback pulled back across the board following a report from WSJ mentioning a debate at the upcoming FOMC meeting on how to continue rising interest rates. The DXY moved off highs and trimmed daily gains. The report also boosted equity prices in Wall Street, also helping commodity prices.

Despite the sharp moves in AUD/USD, it continues to move in ranges between 0.6340 and 0.6200. A firm break above 0.6350 should open the doors to more gains in the very short term.

AUD/USD 4-hour chart

AUDUSD

AUD/USD

Overview
Today last price0.6288
Today Daily Change0.0007
Today Daily Change %0.11
Today daily open0.6281
 
Trends
Daily SMA200.6381
Daily SMA500.6654
Daily SMA1000.6798
Daily SMA2000.7014
 
Levels
Previous Daily High0.6356
Previous Daily Low0.6228
Previous Weekly High0.638
Previous Weekly Low0.617
Previous Monthly High0.6916
Previous Monthly Low0.6363
Daily Fibonacci 38.2%0.6307
Daily Fibonacci 61.8%0.6277
Daily Pivot Point S10.6221
Daily Pivot Point S20.6161
Daily Pivot Point S30.6093
Daily Pivot Point R10.6349
Daily Pivot Point R20.6416
Daily Pivot Point R30.6476

Author

Matías Salord

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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