AUD/USD retreats after being unable to hold above 0.7300, Aussie among top weekly performers

AUD/USD holds onto gains on Friday, off highs.
Australian dollar outperforms across the G10 space during the week.

Matías Salord FXStreet

The AUD/USD is about to end the week near the level it had seven days ago after being unable to hold above 0.7300. On Friday it climbed to 0.7305 and quickly pulled back. As of wiring it trades at 0.7285, up 30 pips of the day.

Price action has been limited don Friday across main FX pairs. AUD/USD held within Thursday’s price range. If it breaks below 0.7280 over the next hours it could extend the side toward 0.7260 but not much is expected.

Week ahead

The doji weekly candle in AUD/USD shows no clear bias on whether to continue with the rally or if it corrects further to the downside. Next week, in Australia economic data to be released, includes the Reserve Bank of Australia minutes on Tuesday and the jobs report on Thursday.

Regarding the US dollar, the DXY is about to end the week far from the lows, but at the same time, showing difficulties extending the upside. The key event next week will be the FOMC meeting. On the data front, reports to be released include retail sales on Wednesday, jobless claims on Thursday and consumer confidence on Friday.

Technical level

AUD/USD

Overview
Today last price	0.7284
Today Daily Change	0.0026
Today Daily Change %	0.36
Today daily open	0.7258

Trends
Daily SMA20	0.7253
Daily SMA50	0.715
Daily SMA100	0.6924
Daily SMA200	0.6755

Levels
Previous Daily High	0.7325
Previous Daily Low	0.7248
Previous Weekly High	0.7416
Previous Weekly Low	0.7222
Previous Monthly High	0.7416
Previous Monthly Low	0.7076
Daily Fibonacci 38.2%	0.7277
Daily Fibonacci 61.8%	0.7295
Daily Pivot Point S1	0.7229
Daily Pivot Point S2	0.7199
Daily Pivot Point S3	0.7151
Daily Pivot Point R1	0.7306
Daily Pivot Point R2	0.7354
Daily Pivot Point R3	0.7384

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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