AUD/USD refreshes monthly tops, eyes 0.6400 amid light trading

AUD bulls benefit from broad USD weakness, better market mood.
Downbeat Chinese inflation, oil slump ignored.
Eyes on US CPI data, coronavirus updates and G20 Summit.

Dhwani Mehta FXStreet

AUD/USD picks up fresh bids and refreshes a new four-week high at 0.6370, breaking the Asian consolidative range to the upside in early European trades.

The Good Friday holiday-thinned light trading seems to have stretched the latest uptick in the aussie, as most major European markets are closed today amid the Easter break. At the time of writing, the spot trades 0.38% higher at 0.6362.

The latest uptick can be also partly justified by the persisting selling interest seen around the greenback against its main rivals, especially in light of Thursday’s disappointing US new jobless claims data and Fed’s additional stimulus announcement. The US dollar index holds the lower ground at 99.45, down -0.07% so far.

The commodity-currency buyers seem to ignore the recent 8% drop in oil prices after Mexico rejected the OPEC+ oil output cuts deal. Also, the disappointing Chinese CPI and PPI data for March also failed to hurt the bulls, as they stay motivated ahead of the US CPI data, G20 Energy Ministers meeting and the final OPEC+ outcome.

AUD/USD technical levels to watch

AUD/USD

Overview
Today last price	0.6363
Today Daily Change	0.0025
Today Daily Change %	0.39
Today daily open	0.6341

Trends
Daily SMA20	0.6044
Daily SMA50	0.6394
Daily SMA100	0.663
Daily SMA200	0.6732

Levels
Previous Daily High	0.6363
Previous Daily Low	0.6195
Previous Weekly High	0.6214
Previous Weekly Low	0.598
Previous Monthly High	0.6686
Previous Monthly Low	0.5509
Daily Fibonacci 38.2%	0.6299
Daily Fibonacci 61.8%	0.6259
Daily Pivot Point S1	0.6236
Daily Pivot Point S2	0.6131
Daily Pivot Point S3	0.6068
Daily Pivot Point R1	0.6404
Daily Pivot Point R2	0.6468
Daily Pivot Point R3	0.6572

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.

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