AUD/USD recovers from drop to 0.6575 but still in the red on Tuesday


  • AUD/USD fell into familiar lows after a rejection from 0.6625.
  • The Aussie found a floor near 0.6575, but upside momentum remains thin.
  • Australian CPI inflation in the pipe ahead of Wednesday’s Fed rate call.

AUD/USD is cycling the 0.6600 handle in a rough range as Aussie (AUD) traders gear up for Australian Consumer Price Index (CPI) inflation due during the early Wednesday session ahead of another rate cal from the US Federal Reserve (Fed).

Australia’s fourth-quarter CPI is expected to contract slightly on an annualized basis, with the headline YoY CPI forecast to print at 4.3% versus the previous 5.4% and the QoQ data expected to slip to 0.8% from 1.2%.

On the Fed side, markets are awaiting a pivot from Fed chairman Jerome Powell. Rate swap markets have seen their rate cut bets steadily pushed further out, and the CME’s FedWatch Tool now sees a less than 40% chance of a first rate cut from the Fed in March. Swaps originally priced in an over 80% chance of a March rate trim back in December, but easing inflation and stubbornly strong economic data from the US over the last quarter renders a rate cut from the Fed next to impossible for fear of re-stoking inflationary pressure.

The back half of the trading week will cap off with China’s Caixin Manufacturing Purchasing Managers’ Index (PMI) figure expected to tick down slightly from 50.8 to 50.6, and broader markets will be looking for a softer print in Friday’s US Nonfarm Payrolls. Friday’s NFP is forecast to tick down to 180K for January from December’s 216K.

AUD/USD technical outlook

The AUD/USD reclaimed the 0.6600 handle on Tuesday after a near-term dip into 0.6575, and the pair is catching intraday technical support from the 200-hour Simple Moving Average (SMA) near 0.6590.

The Aussie continues to catch technical support from the 200-day SMA just above 0.6550 on the daily candlesticks. The pair is still caught in a congestion pattern below the 50-day SMA just above 0.6650.

AUD/USD hourly chart

AUD/USD daily chart

AUD/USD

Overview
Today last price 0.6601
Today Daily Change -0.0011
Today Daily Change % -0.17
Today daily open 0.6612
 
Trends
Daily SMA20 0.6642
Daily SMA50 0.6661
Daily SMA100 0.653
Daily SMA200 0.6577
 
Levels
Previous Daily High 0.6616
Previous Daily Low 0.657
Previous Weekly High 0.6621
Previous Weekly Low 0.6552
Previous Monthly High 0.6871
Previous Monthly Low 0.6526
Daily Fibonacci 38.2% 0.6598
Daily Fibonacci 61.8% 0.6588
Daily Pivot Point S1 0.6582
Daily Pivot Point S2 0.6553
Daily Pivot Point S3 0.6537
Daily Pivot Point R1 0.6628
Daily Pivot Point R2 0.6645
Daily Pivot Point R3 0.6674

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD Markets await first-tier data with modest optimism

EUR/USD Markets await first-tier data with modest optimism Premium

EUR/USD clings to small daily gains above 1.1350 in the American session on Monday. The cautious market mood and easing US Dollar demand help the pair stretch higher as investors gear up for this week's upcoming key macroeconomic data releases.

EUR/USD News
GBP/USD gathers bullish momentum, advances to 1.3400

GBP/USD gathers bullish momentum, advances to 1.3400

GBP/USD extends its daily climb to the 1.3400 area in the second half of the day on Monday. Renewed US Dollar weakness amid a lack of fresh developments hinting at a further de-escalation of the US-China trade conflict support the pair ahead of this week's critical data releases.

GBP/USD News
Gold rebounds above $3,300 as mood sours

Gold rebounds above $3,300 as mood sours

Following a bearish opening to the week, Gold gains traction and trades above $3,300 in the American session. Mixed headlines on the ongoing US-China trade war cause markets to remain risk-averse on Monday, allowing XAU/USD to turn north.

Gold News
XRP extends gains ahead of futures ETFs launch this week

XRP extends gains ahead of futures ETFs launch this week

XRP climbs over 3% on Monday, hovering around $2.33 at the time of writing. The rally is likely catalyzed by key market movers like XRP futures Exchange Traded Funds (ETFs) approval by the US financial regulator, the Securities and Exchange Commission (SEC), and a bullish outlook.

Read more
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets

Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets

Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025