AUD/USD staggers after recovering 0.7200

The Aussie recovered to 0.7200 in early Monday action, but bullish momentum has stalled quickly.
The ongoing US-China trade war remains the key market factor cutting the Aussie off at the legs.

Joshua Gibson FXStreet

AUD/USD remains unmoved from the 0.7200 zone, testing near 0.7220 but intraday momentum has stalled at the key figure as Pacific markets settle back down after a brief Monday recovery which saw the Aussie reclaim some 40 pips from the day's early three-week low at 0.7178.

Australian economic data remains limited this week, though Tuesday's early trading window will be seeing Australia's Q3 Housing Price Index early on at 00:30 GMT, which is expected to continue contracting from -0.7% to -1.5% as investors remain bearish on Australia's worrying housing economy, and a steepening contraction in housing prices will do little to keep the AUD upright heading into a tense week with plenty of US-China trade angst on the offering.

AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.7214
    Today Daily change: 7.0 pips
    Today Daily change %: 0.0971%
    Today Daily Open: 0.7207
Trends:
    Previous Daily SMA20: 0.7265
    Previous Daily SMA50: 0.7185
    Previous Daily SMA100: 0.7237
    Previous Daily SMA200: 0.741
Levels:
    Previous Daily High: 0.7242
    Previous Daily Low: 0.7198
    Previous Weekly High: 0.7394
    Previous Weekly Low: 0.7192
    Previous Monthly High: 0.7345
    Previous Monthly Low: 0.7072
    Previous Daily Fibonacci 38.2%: 0.7215
    Previous Daily Fibonacci 61.8%: 0.7225
    Previous Daily Pivot Point S1: 0.7189
    Previous Daily Pivot Point S2: 0.7171
    Previous Daily Pivot Point S3: 0.7145
    Previous Daily Pivot Point R1: 0.7233
    Previous Daily Pivot Point R2: 0.726
    Previous Daily Pivot Point R3: 0.7278

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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