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.
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.
