• AUD/USD post modest gains on Tuesday even as US stocks drop sharply.
  • US Dollar remains with a bearish bias, DXY trades at lowest since late February.

The AUD/USD pair is moving sideways on Tuesday, hovering around 0.7840. The correction from the highest since late February at 0.7892 found support at the 0.7820 zone. The decline in equity prices in Wall Street, so far, did not affect the aussie.

The Dow Jones is falling by 1.32% and the Nasdaq slide by 0.45% after trimming losses. European markets dropped more than 1% but ended off lows. The risk aversion environment did not boost the demand for Treasuries. The 10-year yield rose to 1.62%, the highest in a week.

The US dollar is posting mixed results. Usually, it benefits from higher yields and risk aversion, but that is not the case on Tuesday. It is down even versus some emerging market currencies.

From a technical perspective, in the short-term AUD/USD is moving sideways. A break under 0.7820 would clear the way for a test of 0.7805. The area between 0.7800 and 0.7810 is a strong barrier that if broken would weaken the outlook of the aussie. On the upside, the immediate resistance is seen at 0.7855/60 and above the weekly top at 0.7890.

Technical levels

AUD/USD

Overview
Today last price 0.7848
Today Daily Change 0.0017
Today Daily Change % 0.22
Today daily open 0.7831
 
Trends
Daily SMA20 0.7752
Daily SMA50 0.7711
Daily SMA100 0.7715
Daily SMA200 0.7483
 
Levels
Previous Daily High 0.7892
Previous Daily Low 0.7826
Previous Weekly High 0.7863
Previous Weekly Low 0.7674
Previous Monthly High 0.7819
Previous Monthly Low 0.7531
Daily Fibonacci 38.2% 0.7851
Daily Fibonacci 61.8% 0.7867
Daily Pivot Point S1 0.7807
Daily Pivot Point S2 0.7784
Daily Pivot Point S3 0.7741
Daily Pivot Point R1 0.7873
Daily Pivot Point R2 0.7916
Daily Pivot Point R3 0.7939

 

 

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