AUD/USD: Recovery still capped below 0.6800


  • AUD/USD unable to extend the recovery as USD retains recent gains.
  • Recovery in Treasury yields and S&P 500 futures lift risk and the AUD.  
  • All eyes on a fresh batch of US data, yields amid trade-related news.

The bid tone around the Australian dollar remains intact in the European session, keeping the AUD/USD pair well support in the upper bound of the 0.67 handle.

AUD/USD: Bulls await a break above 0.6800

Amid calm trading so far this Friday, the Aussie remains the strongest across the fx board, in the wake of an improvement in the risk sentiment, as indicated by a relief recovery in the  S7P 500 futures and Treasury yields across the curve. The 30-year Treasury yields are rallying +1.50% and back above the 2.0% level. Meanwhile, the European equities are also trading on the front foot in the opening hour.

However, a break above the 0.68 handle looks elusive for the time being, as markets remain wary over the ongoing US-China trade tussle. Moreover, the US dollar continues to extend its bullish consolidative mode in Europe, having benefited strongly from a bigger-than-expected rise in the US Retail Sales data that alleviated the recent recession fears.

Furthermore, the retreat on gold prices also adds to the limited upside in the commodity currency. Looking ahead, markets stay focussed on the price action around the Treasury yields and risk trends for fresh trading impulse ahead of the US housing and consumer sentiment data.

AUD/USD Technical levels

AUD/USD

Overview
Today last price 0.6784
Today Daily Change 0.0010
Today Daily Change % 0.15
Today daily open 0.6774
 
Trends
Daily SMA20 0.6853
Daily SMA50 0.6922
Daily SMA100 0.6972
Daily SMA200 0.7063
Levels
Previous Daily High 0.6791
Previous Daily Low 0.6745
Previous Weekly High 0.6822
Previous Weekly Low 0.6676
Previous Monthly High 0.7082
Previous Monthly Low 0.6832
Daily Fibonacci 38.2% 0.6773
Daily Fibonacci 61.8% 0.6762
Daily Pivot Point S1 0.6749
Daily Pivot Point S2 0.6724
Daily Pivot Point S3 0.6704
Daily Pivot Point R1 0.6795
Daily Pivot Point R2 0.6816
Daily Pivot Point R3 0.684

 

 

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