AUD/USD registers modest gains around 0.7130 ahead of US data

  • AUD/USD continues to fluctuate in a tight range above 0.7100.
  • RBA's Debelle adopted an optimistic tone with regards to the growth outlook.
  • US Dollar Index struggles to push higher above 93.00 ahead of US data. 

The AUD/USD pair is struggling to find direction for the second straight day on Tuesday and continues to fluctuate in a narrow band above 0.7100. As of writing, the pair was up 0.12% on a daily basis at 0.7130.

Upbeat RBA commentary supports AUD

During the Asian trading hours on Tuesday, the Reserve Bank of Australia's (RBA) Deputy Governor, Guy Debelle, said that he expects to positive economic growth in the third quarter. Additionally, Debelle noted that the negative impact of the coronavirus outbreak in Victoria was likely to be smaller than initially anticipated. These optimistic comments helped the AUD show some resilience against its rivals.

On the other hand, the improving market sentiment, as reflected by modest gains witnessed in the S&P 500 futures, is making is difficult for the greenback to preserve its strength.

Ahead of the Durable Goods Orders and the CB Consumer Confidence data from the US, the US Dollar Index is staying in the negative territory a little below 93.00. 

On Wednesday, the third quarter inflation report from Australia will be looked upon for fresh impetus. Markets expect the annual Consumer Price Index (CPI) to rise to 0.7% from -0.3% in the second quarter. If the CPI reading comes in lower than analysts' estimate, investors could start pricing an RBA rate cut and the AUD could lose its strength.  

Technical levels to watch for


Today last price 0.7129
Today Daily Change 0.0006
Today Daily Change % 0.08
Today daily open 0.7123
Daily SMA20 0.7139
Daily SMA50 0.7197
Daily SMA100 0.7108
Daily SMA200 0.6796
Previous Daily High 0.7182
Previous Daily Low 0.7103
Previous Weekly High 0.7159
Previous Weekly Low 0.702
Previous Monthly High 0.7414
Previous Monthly Low 0.7004
Daily Fibonacci 38.2% 0.7133
Daily Fibonacci 61.8% 0.7151
Daily Pivot Point S1 0.709
Daily Pivot Point S2 0.7057
Daily Pivot Point S3 0.7011
Daily Pivot Point R1 0.7169
Daily Pivot Point R2 0.7215
Daily Pivot Point R3 0.7248



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD hits new two-month highs closer to 1.1950

EUR/USD has extended its gains, nearing 1.1950. The US dollar is on the back foot as the FOMC Minutes hint to more QE coming and as US jobless claims rose again. Coronavirus headlines and the ECB meeting minutes are eyed.


GBP/USD shrugs off Brexit uncertainty and nears 1.34

GBP/USD is nearing 1.34 amid dollar weakness, shrugging off concerns of a snag in Brexit talks. It is unclear if Chief EU Negotiator Barnier travels to London for further talks.


XAU/USD trades with modest gains above $1810 level, lacks follow-through

A softer tone surrounding the USD assisted gold to gain some traction on Thursday. COVID-19 vaccine optimism might cap the upside for the safe-haven precious metal. Holiday-thinned liquidity warrants some caution before placing fresh directional bets.

Gold news

US Thanksgiving Wrap: Consumers carry October, November starts to look dicey

A triple dose of US data on Wednesday before the Thanksgiving holiday confirmed the strength of the consumer recovery even as employment problems again loom from the rising numbers of Covid-19 closures across the country.

Read more

Black Friday 2020 Discounts!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info