AUD/USD stays calm above 0.69 as market attention shifts to Europe

  • China says financial risks are controllable.
  • US Dollar Index recovers small part of last week's losses.

The AUD/USD dropped to its lowest level since early January last week but staged a modest rebound to close the week virtually unchanged. With the trading volume thinning out due to the holiday in the U.S., the pair is moving up and down in an extremely tight channel today, waiting for the next catalyst. Meanwhile, investors don't seem to be paying any attention to antipodeans and focusing on the EU elections in the absence of any other macroeconomic data releases or events. 

Earlier today, Guo Shuqing, China's banking and insurance regulator chief, argued that the escalation of trade frictions will have limited impact on China's financial markets but was largely ignored by the markets. Shuqing also reiterated that financial risks were controllable.

Meanwhile, following the selloff witnessed on Thursday and Friday, the US Dollar Index is posting technical recovery gains near 97.70, failing to provide a directional clue to the pair. In the second half of the day, the trading volume is likely to thin out event further due to the Memorial Day holiday in the U.S.

Tomorrow's housing market and consumer sentiment data from the U.S. will be looked upon for fresh impetus. The next data from Australia, new home sales, will be released on Wednesday.

Technical levels to watch for


Today last price 0.6926
Today Daily Change 0.0000
Today Daily Change % 0.00
Today daily open 0.6926
Daily SMA20 0.6959
Daily SMA50 0.7051
Daily SMA100 0.7094
Daily SMA200 0.7139
Previous Daily High 0.6935
Previous Daily Low 0.688
Previous Weekly High 0.6935
Previous Weekly Low 0.6864
Previous Monthly High 0.7206
Previous Monthly Low 0.6988
Daily Fibonacci 38.2% 0.6914
Daily Fibonacci 61.8% 0.6901
Daily Pivot Point S1 0.6893
Daily Pivot Point S2 0.6859
Daily Pivot Point S3 0.6838
Daily Pivot Point R1 0.6948
Daily Pivot Point R2 0.6969
Daily Pivot Point R3 0.7003



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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD: Bulls in control above 1.1100 starting out ECB week

Following the bounce from near 1.1100 in early Asia, EUR/USD has entered a phase of consolidated near 1.1140 region ahead of the European open. Bulls await a fresh impetus for the next push above the 1.1150 mark ahead of Eurozone/ US PMIs.


GBP/USD recedes from three-week top above 1.2400, UK Manufacturing PMI eyed

GBP/USD prints three-day winning streak amid broad US dollar weakness. Calls of further help to British employees add to the upside momentum. Downbeat Brexit headlines confront the UK’s coronavirus optimism. The UK/US PMIs will join qualitative catalysts.


FX Today: USD hit by escalating US riots, risk-on mood; US ISM PMI eyed amid light trading

The US dollar took a beating across the board starting out a new month/ week, as markets breathed a sigh of relief on the US’ softer stance on China. The dollar weakness was also backed by the escalating riots in the US cities, with curfews imposed on major cities. 

Read more

Gold: Teasing a rectangle breakout, $1750 in sight

Gold bulls gathering pace for the next push higher. The extension of last week’s rally in the yellow metal is mainly driven by the sell-off in the US dollar across the board, in the wake of US-China trade war relief and escalating US riots.

Gold News

WTI: Overbought RSI challenges the bulls above $35.50

WTI seesaws around 7-week-old resistance line, retreats from highest since March 11. A short-term ascending trend line on the bears’ radars during the pullback. 100-day SMA, 61.8% Fibonacci retracement together offers strong upside barrier.

Oil News