AUD/USD refreshes intraday low near 0.7750 ahead of Aussie Retail Sales, Trade Balance

  • AUD/USD extends the previous day’s losses from weekly top.
  • RBA failed to entertain markets but Treasury yields stole the show.
  • Risk-off heavies the quote ahead of final readings of key data.

AUD/USD holds lower ground around mid-0.7700s during the early Asian session on Thursday. The risk barometer recently refreshed intraday low as market sentiment stretched the previous day’s downbeat mood. Though, the bears are chained ahead of Aussie Retail Sales and trade data for January.

It's worth mentioning that the Aussie PM Morrison's comments to rollout AstraZeneca vaccine from Friday and China Security Journal's statements suggesting no strong jump in the rates during the short-term couldn't please AUD/USD buyers.

The escalating talks over the US covid stimulus and already announced UK budget rekindled reflation fears on Thursday. Also weighed on the mood could be chatters from the ECB suggesting no serious need to tame the bond bears.

Furthermore, House cancellation of a session on Thursday, following the news of a plot to shake Capitol Hill again, joined China-linked hackers’ cyberattack on Microsoft’s email server to exert a fresh burden on the risks.

Against this backdrop, the Wall Street benchmark closed in the red while the US 10-year Treasury yields rallied towards regaining the 1.50% mark. Further, the S&P 500 Futures drop 0.25% by the press time.

Moving on, Australia’s final prints of January month Retail Sales and Trade Balance, expected 0.6% MoM and 6500M, versus 0.6% and 6785M prior, should offer immediate direction to the AUD/USD prices. However, major attention should be given to the risk barometers as US fiscal relief news will be the key to watch ahead of today’s speech from Fed Chair Jerome Powell.

Technical analysis

The reversal from 10-day SMA, at 0.7835 now, directs AUD/USD towards breaking an ascending trend line from early November, at 0.7740 now.

Additional important levels

Today last price 0.7755
Today Daily Change -73 pips
Today Daily Change % -0.93%
Today daily open 0.7828
Daily SMA20 0.7773
Daily SMA50 0.7725
Daily SMA100 0.7513
Daily SMA200 0.7298
Previous Daily High 0.7838
Previous Daily Low 0.7736
Previous Weekly High 0.8008
Previous Weekly Low 0.7692
Previous Monthly High 0.8008
Previous Monthly Low 0.7562
Daily Fibonacci 38.2% 0.7799
Daily Fibonacci 61.8% 0.7775
Daily Pivot Point S1 0.7763
Daily Pivot Point S2 0.7698
Daily Pivot Point S3 0.766
Daily Pivot Point R1 0.7865
Daily Pivot Point R2 0.7903
Daily Pivot Point R3 0.7968



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