AUD/USD retreats modestly below 0.6800, holds far from decade lows

Aussie flat for the day, consolidates rebound from multi-year lows.
US Dollar relatively quiet on Friday, falls versus CHF, JPY after Trump’s comments.

Matías Salord FXStreet

The AUD/USD pair continues to move sideways on Friday, and also it is about to end the week unchanged after being able to recover from decade lows. Since the Asian session, it is trading hovering around 0.6800, in a small range between 0.6820 and 0.6770

As of writing, it is looking at the daily lows following comments from US President Trump. He said to reporters at the White House that he wasn't ready to do anything yet on a possible deal with China and added that September’s talks in Washington might be canceled. His comments pushed equity prices to the downside and weigh on market sentiment.

Earlier today, data from the US showed the Producer Price Index (PPI) rose in line with expectations, but the core unexpectedly dropped. Market participants ignored US data as focus appears to be on global growth concerns and trade wars.

The Aussie was nos affected on Friday by “dovish” comments from Reserve Bank of Australia Governor Lowe. He repeated that the central bank is prepared to adopt unconventional policy measures if required.

On a weekly basis, AUD/USD is about to end flat which could be seen as positive taking into account it rebounded more than 125 pips after falling on Wednesday to 0.6676, the lowest intraday level in ten years.

Technical levels to watch

AUD/USD

Overview
Today last price	0.6798
Today Daily Change	-0.0003
Today Daily Change %	-0.04
Today daily open	0.6801

Trends
Daily SMA20	0.6918
Daily SMA50	0.6942
Daily SMA100	0.6989
Daily SMA200	0.7075

Levels
Previous Daily High	0.6822
Previous Daily Low	0.6746
Previous Weekly High	0.6917
Previous Weekly Low	0.6763
Previous Monthly High	0.7082
Previous Monthly Low	0.6832
Daily Fibonacci 38.2%	0.6793
Daily Fibonacci 61.8%	0.6775
Daily Pivot Point S1	0.6757
Daily Pivot Point S2	0.6714
Daily Pivot Point S3	0.6681
Daily Pivot Point R1	0.6833
Daily Pivot Point R2	0.6866
Daily Pivot Point R3	0.6909

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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