AUD/USD refreshes session lows, around mid-0.7100s amid notable USD demand


   •  A goodish pickup in the USD demand exerts some fresh pressure at higher levels.
   •  Stronger US monthly retail sales provided an additional boost to the greenback.
   •  Weakness below weekly lows might prompt some aggressive technical selling.

The AUD/USD pair extended its intraday rejection slide from the 0.7200 handle and refreshed session lows in reaction to mostly upbeat US macro data.

The pair continued with its struggle to sustained/build on its momentum beyond the 0.7200 handle and once again witnessed some long-unwinding trade from the very important 200-day SMA amid a goodish pickup in the US Dollar demand. 

Sluggish Euro-zone PMI prints reignited global growth concerns and partly offset the latest optimism over a possible US-China trade deal, which eventually turned out to be one of the key factors benefitting the greenback's relative safe-haven status. 

The already stronger USD got an additional boost in wake of upbeat US monthly retail sales data for March and steady initial weekly jobless claims, with bulls shrugging off a slight disappointment from the Philly Fed Manufacturing index for April.

The latest leg of a downtick since the early European session has now dragged the pair back closer to weekly lows, which if broken might prompt some fresh technical selling and pave the way for further intraday weakness ahead of a long Easter weekend. 

Technical levels to watch

AUD/USD

Overview
Today last price 0.7154
Today Daily Change -0.0025
Today Daily Change % -0.35
Today daily open 0.7179
 
Trends
Daily SMA20 0.7122
Daily SMA50 0.7109
Daily SMA100 0.7137
Daily SMA200 0.7191
Levels
Previous Daily High 0.7206
Previous Daily Low 0.7153
Previous Weekly High 0.7193
Previous Weekly Low 0.7087
Previous Monthly High 0.7168
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.7186
Daily Fibonacci 61.8% 0.7173
Daily Pivot Point S1 0.7152
Daily Pivot Point S2 0.7126
Daily Pivot Point S3 0.7099
Daily Pivot Point R1 0.7206
Daily Pivot Point R2 0.7233
Daily Pivot Point R3 0.7259

 

 

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