AUD/USD set to end a tightly-wound week near where it started

The Aussie continues to trade flatly near familiar levels as markets await trade headlines.
The US could consider lifting tariffs on China, but details remain thin.

Joshua Gibson FXStreet

AUD/USD heads into Friday nailed to the 0.7190 figure, bolstered at the tail end of Thursday's US session by trade war headlines, but ultimately remaining firmly entrenched in consolidation near the 0.7200 major level.

Headlines suggested that the US may be set to lift some tariffs on China, helping to prop up the Aussie briefly and sending the pair into 0.7220, but until action is seen on the trade war front AUD/USD is set to continue spinning in place for the foreseeable future.

Little of note remains on the economic docket for the Aussie, though traders will be getting set for next week's employment reports, far off on the horizon for next Thursday.

AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.7186
    Today Daily change: -10 pips
    Today Daily change %: -0.153%
    Today Daily Open: 0.7197
Trends:
    Daily SMA20: 0.7105
    Daily SMA50: 0.7184
    Daily SMA100: 0.7172
    Daily SMA200: 0.732
Levels:
    Previous Daily High: 0.7222
    Previous Daily Low: 0.7146
    Previous Weekly High: 0.7236
    Previous Weekly Low: 0.7089
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Daily Fibonacci 38.2%: 0.7193
    Daily Fibonacci 61.8%: 0.7175
    Daily Pivot Point S1: 0.7155
    Daily Pivot Point S2: 0.7112
    Daily Pivot Point S3: 0.7079
    Daily Pivot Point R1: 0.7231
    Daily Pivot Point R2: 0.7264
    Daily Pivot Point R3: 0.7307

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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