AUD/USD retreats to 0.7650 area as DXY recovers Friday's losses


  • AUD/USD edges lower ahead of the American session.
  • US Dollar Index gains traction following Friday's drop.
  • National Australia Bank will release Business Confidence data on Tuesday.

The AUD/USD pair rose sharply on Friday after the gloomy US labour market data triggered a USD selloff. However, the pair struggled to preserve its bullish momentum on Monday and was last seen losing 0.25% on a daily basis at 0.7655.

DXY starts new week on firm footing

The US Burea of Labor Statistics announced that Nonfarm Payrolls (NFP) in the US rose by 49,000 in January. Further details of the publication showed that December's reading got revised down to -227,000 from -140,000. The US Dollar Index (DXY) turned south on this report and fell toward 91.00 toward the end of the week.

In the absence of significant fundamental drivers on Monday, the DXY regained its traction and was last seen rising 0.15% on the day at 91.18.

There won't be any data releases featured in the US economic docket. In the early trading hours of the Asian session on Tuesday, the National Australia Bank will release the Business Confidence and Business Conditions data for January.

Meanwhile, Wall Street's main indexes remain on track to start the day mıodestly higher. Last week's market action showed that the USD gathered strength on the back of rising equity indexes and a similar move could put additional weight on AUD/USD's shoulders in the remains of the day.

Technical levels to watch for

AUD/USD

Overview
Today last price 0.7657
Today Daily Change -0.0016
Today Daily Change % -0.21
Today daily open 0.7673
 
Trends
Daily SMA20 0.7694
Daily SMA50 0.7621
Daily SMA100 0.7402
Daily SMA200 0.7188
 
Levels
Previous Daily High 0.7675
Previous Daily Low 0.7582
Previous Weekly High 0.7675
Previous Weekly Low 0.7562
Previous Monthly High 0.782
Previous Monthly Low 0.7592
Daily Fibonacci 38.2% 0.764
Daily Fibonacci 61.8% 0.7618
Daily Pivot Point S1 0.7612
Daily Pivot Point S2 0.7551
Daily Pivot Point S3 0.752
Daily Pivot Point R1 0.7705
Daily Pivot Point R2 0.7736
Daily Pivot Point R3 0.7797

 

 

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

GBP/USD recovers to 1.3300 ahead of UK Retail Sales data

GBP/USD recovers to 1.3300 ahead of UK Retail Sales data

GBP/USD trades with a positive bias for the third straight day on Friday and hovers near the 1.3300 mark in the European morning on Friday. Traders digest the BoE and Fed policy decisions, awaiting the UK Retail Sales data for further trading impetus. 

GBP/USD News
USD/JPY keeps BoJ-led losses below 142.50, Ueda's presser eyed

USD/JPY keeps BoJ-led losses below 142.50, Ueda's presser eyed

USD/JPY remains in the red below 142.50 after the Bank of Japan announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%, as widely expected. Governor Ueda's press conference is next in focus.  

USD/JPY News
Gold consolidates weekly gains, with sight on $2,600 and beyond

Gold consolidates weekly gains, with sight on $2,600 and beyond

Gold price is looking to build on the previous day’s rebound early Friday, consolidating weekly gains amid the overnight weakness in the US Dollar alongside the US Treasury bond yields. Traders now await the speeches from US Federal Reserve monetary policymakers for fresh hints on the central bank’s path forward on interest rates.

Gold News
Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum

Shiba Inu is poised for a rally as price action and on-chain metrics signal bullish momentum

Shiba Inu remains strong on Friday after breaking above a symmetrical triangle pattern on Thursday. This breakout signals bullish momentum, further bolstered by a rise in daily new transactions that suggests a potential rally in the coming days.

Read more
Bank of Japan set to keep rates on hold after July’s hike shocked markets

Bank of Japan set to keep rates on hold after July’s hike shocked markets

The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session. 

Read more
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

Forex MAJORS

Cryptocurrencies

Signatures