• AUD/USD reached a new YTD low at around 0.6776.
  • US ISM Manufacturing PMI for June continued expanding but at a slower rhythm.
  • Australia and China’s PMI came better than expected, but a jump in US bond yields kept the pair from further recovery.

The AUD/USD nose-dive to fresh YTD lows near 0.6776, on harmful US manufacturing data, thought as the New York session progressed has recovered some ground, and is closing to the 0.6800 figure. At 0.6821, the AUD/USD stays depressed and ready to finish the week with substantial losses of 2%.

A mixed market mood and a pullback in the US Dollar Index capped AUD/USD losses

Sentiment has improved as Friday’s session begins to wane. US equities pare earlier losses except for the heavy-tech Nasdaq, falling 0.19%, after slowing on a weaker than expected US ISM manufacturing data, which expanded though reached a two-year low, as new orders shrank. That sounded investors’ alarms, who also flew towards haven assets and bought US Treasuries, as depicted bu US Treasury yields plunging, with the 2-year at a time dropped 25 bps, as traders priced in a “less” aggressive than expected US Federal Reserve.

In the meantime, Timothy R. Fiore, Chair of the Institute for Supply Management, commented on the report that the manufacturing sector is being “powered” by demand while has been “held back by supply chain constraints.” Furthermore, the employment index, despite contracting, shows progress, according to the survey. Prices eased for the third month in a row while new orders fell.

During the Asian session, AUD/USD traders took cues from Australia S&P Global Manufacturing PMI, which came at 56.2, higher than foreseen, capping the AUD/USD fall. Late in the session, China’s Caixin Manufacturing PMI rose to 51.7 for June versus 50.1 expected and 48.1 prior.

AUD/USD Key Technical Levels

AUD/USD

Overview
Today last price 0.6821
Today Daily Change -0.0082
Today Daily Change % -1.19
Today daily open 0.6903
 
Trends
Daily SMA20 0.7004
Daily SMA50 0.7051
Daily SMA100 0.7203
Daily SMA200 0.7226
 
Levels
Previous Daily High 0.692
Previous Daily Low 0.6852
Previous Weekly High 0.6997
Previous Weekly Low 0.6868
Previous Monthly High 0.7283
Previous Monthly Low 0.685
Daily Fibonacci 38.2% 0.6894
Daily Fibonacci 61.8% 0.6878
Daily Pivot Point S1 0.6864
Daily Pivot Point S2 0.6824
Daily Pivot Point S3 0.6796
Daily Pivot Point R1 0.6931
Daily Pivot Point R2 0.6959
Daily Pivot Point R3 0.6999

 

 

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