AUD/USD slips below mid-0.6900s, fresh one-week low


  • Persistent US-China trade tensions continue to weigh on the Aussie.
  • A modest pickup in the USD demand adds to the prevalent selling bias.
  • Technical set-up points to an extension of the ongoing bearish slide.

The AUD/USD pair remained depressed through the early North-American session and is currently placed at the lower end of its daily trading range, just below mid-0.6900s. 

After the previous session's subdued trading action, the pair came under some renewed selling pressure on Wednesday and added to this week's heavy losses following the release of mixed Chinese inflation figures. This against the backdrop of persistent worries over a further escalation in the US-China trade tensions kept exerting some pressure on the China-proxy Australian Dollar.

Meanwhile, the latest leg of downtick over the past hour or so could be solely attributed to a modest pickup in the US Dollar demand. Despite softer US consumer inflation figures, a sudden turnaround in the US Treasury bond yields underpinned the greenback demand and further collaborated to the pair's ongoing slide to over one-week lows.

From a technical perspective, a follow-through selling will confirm a near-term bearish break below the 50% Fibonacci retracement level of the 0.6865-0.7022 recent up-move and set the start for a further near-term downside, even below the 0.6900 handle, towards retesting multi-month lows support near the 0.6865 region.

Technical levels to watch

AUD/USD

Overview
Today last price 0.6946
Today Daily Change -0.0016
Today Daily Change % -0.23
Today daily open 0.6962
 
Trends
Daily SMA20 0.6931
Daily SMA50 0.7016
Daily SMA100 0.7068
Daily SMA200 0.7119
Levels
Previous Daily High 0.6967
Previous Daily Low 0.6946
Previous Weekly High 0.7022
Previous Weekly Low 0.6927
Previous Monthly High 0.7062
Previous Monthly Low 0.6862
Daily Fibonacci 38.2% 0.6954
Daily Fibonacci 61.8% 0.6959
Daily Pivot Point S1 0.695
Daily Pivot Point S2 0.6938
Daily Pivot Point S3 0.693
Daily Pivot Point R1 0.6971
Daily Pivot Point R2 0.6979
Daily Pivot Point R3 0.6991

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD struggling to hold onto 1.10 as USD gains ground

EUR/USD is trading close to 1.10, as the US dollar gradually advances. Two White House advisers expressed contradicting accounts of US-Sino trade talks, causing confusion. Germany refrained from adding fiscal stimulus.

EUR/USD News

GBP/USD trades around 1.25 as EU pours cold water on Brexit hopes

GBP/USD is trading around 1.25, off the two-month highs of 1.2582 as EU officials cast doubts about the seriousness of the new UK proposals on Brexit. 

GBP/USD News

USD/JPY drops to one-week lows on trade war headlines

The USD/JPY fell during the American session following reports that the Montana Farm Bureau said China's delegation has canceled a planned trip to view US agriculture.

USD/JPY News

Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more

Forex MAJORS

Cryptocurrencies

Signatures