AUD/USD slipping from 0.7300 ahead of RBA SoMP

RBA in the barrel, but trade wars and Fed rates remain key drivers for the Antipodeans.
The Aussie remains hobbled at the week's highs near the critical 0.7300 handle.

Joshua Gibson FXStreet

The AUD/USD is trading into 0.7260 heading into Friday's early overnight session with the Reserve Bank of Australia's (RBA) latest rate statement in the pipe, and the US Dollar is seeing a resurgence across the board after the US Federal Reserve brought little new action to the table, sparking a decline on Wall Street that threatens to spread to the upcoming Pacific-Asia region.

The RBA is slated for another appearance early Friday where no change is expected as "wait and see" has been the modus operandi of the Australian central bank for over two years and counting. Growth within Australia's domestic economy remains a touchy subject, and although recent readings from China, Australia's largest trading partner, have been positive, potential fallout from the US-China tradewar are likely to keep the overly-cautious RBA on their haunches.

AUD/USD Technical levels

AUD/USD

Overview:
    Last Price: 0.7262
    Daily change: -16 pips
    Daily change: -0.220%
    Daily Open: 0.7278
Trends:
    Daily SMA20: 0.7129
    Daily SMA50: 0.716
    Daily SMA100: 0.7267
    Daily SMA200: 0.7478
Levels:
    Daily High: 0.7302
    Daily Low: 0.7213
    Weekly High: 0.726
    Weekly Low: 0.705
    Monthly High: 0.724
    Monthly Low: 0.702
    Daily Fibonacci 38.2%: 0.7268
    Daily Fibonacci 61.8%: 0.7247
    Daily Pivot Point S1: 0.7227
    Daily Pivot Point S2: 0.7175
    Daily Pivot Point S3: 0.7138
    Daily Pivot Point R1: 0.7316
    Daily Pivot Point R2: 0.7354
    Daily Pivot Point R3: 0.7405

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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