AUD/USD recovers in sync with risk, neutral near 0.6930 ahead of US data

Aussie lifted by improving risk sentiment and higher oil, copper prices.
Uptick in S&P 500 futures and fresh USD weakness also underpin.
Focus on US macro data after the Australian jobs report disappointed.

Dhwani Mehta FXStreet

The AUD/USD pair erased earlier losses and swung back on the bids in the European session, now printing daily tops near 0.6935 region amid an improvement in the risk sentiment and broad US dollar selling.

The spot stages a comeback from fresh four and a half month lows of 0.6894 reached in the Asian trades after the Australian Unemployment Rate ticked higher to 5.2% and raised the bets for an RBA rate cut as soon as next month. The Aussie was further pressured by escalating US-China trade spat, as the US President Trump signed an executive order on Wednesday, banning the Chinese technology company Huawei.

Over the last hour, the AUD bulls saw fresh signs of life, as the risk sentiment somewhat improved, as reflected by the uptick in the S &P 500 futures and ongoing recovery in oil and copper prices. Moreover, the prices drew support from fresh US dollar weakness across its main competitors, as Treasury yields continued to remain under pressure.

Attention now turns towards a raft of relevant US macro-economic releases, including the jobless claims, Philly Fed manufacturing index and housing data, for fresh trading impetus. In the meantime, the risk trends and USD dynamics will continue to influence the major.

AUD/USD Technical Levels

AUD/USD

Overview
Today last price	0.6928
Today Daily Change	-0.0001
Today Daily Change %	-0.01
Today daily open	0.6929

Trends
Daily SMA20	0.7027
Daily SMA50	0.7075
Daily SMA100	0.7104
Daily SMA200	0.7153

Levels
Previous Daily High	0.6949
Previous Daily Low	0.6914
Previous Weekly High	0.7048
Previous Weekly Low	0.6947
Previous Monthly High	0.7206
Previous Monthly Low	0.6988
Daily Fibonacci 38.2%	0.6927
Daily Fibonacci 61.8%	0.6936
Daily Pivot Point S1	0.6912
Daily Pivot Point S2	0.6896
Daily Pivot Point S3	0.6877
Daily Pivot Point R1	0.6947
Daily Pivot Point R2	0.6966
Daily Pivot Point R3	0.6982

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.