AUD/USD stays below 0.6200 as the central bankers surprise markets

  • AUD/USD drops back to sub-0.6200 on Fed Chair’s presser.
  • RBA cheers the Aussie financial system.
  • Fed/RBNZ announced surprise rate cuts but the respective central bankers refrain from further moves.

Having gradually risen to 0.6220 from 0.6100 ahead of a few minutes, AUD/USD drops to 0.6180 amid the initial Asian session trading on Monday. The pair seems to take clues from the Fed Chair’s presser as well as RBA comments off-late. The RBA keeps praising the national financial system while providing fewer clues for the future moves.

Read: RBA: Australia's financial system is resilient and well placed to fight coronavirus

Following a surprise rate cut, second in the month, to 0.25% as well as $700 billion worth of a Quantitative Easing (QE), the Federal Reserve Chairman turns down the odd of any FOMC meeting during this week. Earlier, markets were anticipating a 100 basis points cut into the Fed rate.

Read: Breaking: Powell speech: Coronavirus is having a profound effect on US and around the world

Not only the Fed but RBNZ also played its role and joined the league of central bankers announcing rate cuts/QE to ward off the negative implications of the coronavirus (COVID-19).

The risk-tone remains under pressure with S&P 500 Futures down 3.77% to 2,5555 by the press time.

Investors will keep eyes on the co-ordinated central bank moves, coronavirus headlines for fresh impulse. Unless there is good news on the part of the pandemic, a remedy or something, markets are likely to remain volatile while portraying the risk aversion.

Technical Levels


Today last price 0.6182
Today Daily Change -0.0043
Today Daily Change % -0.69
Today daily open 0.6225
Daily SMA20 0.656
Daily SMA50 0.6704
Daily SMA100 0.6786
Daily SMA200 0.6819
Previous Daily High 0.6326
Previous Daily Low 0.6122
Previous Weekly High 0.6686
Previous Weekly Low 0.6122
Previous Monthly High 0.6775
Previous Monthly Low 0.6434
Daily Fibonacci 38.2% 0.62
Daily Fibonacci 61.8% 0.6248
Daily Pivot Point S1 0.6122
Daily Pivot Point S2 0.602
Daily Pivot Point S3 0.5918
Daily Pivot Point R1 0.6327
Daily Pivot Point R2 0.6429
Daily Pivot Point R3 0.6531



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