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

 

 

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