AUD/USD stays calm below 0.68 handle on Monday


  • AUD ignores mixed PMI data from Australia at the start of the week.
  • US Dollar Index climbs above 98.50 on Monday.
  • Coming up: Markit Manufacturing and Services PMI data from the US.

The AUD/USD pair erased more than 100 pips last week and is now seems to have gone into a consolidation phase at the start of the new week. As of writing, the pair was trading at 0.6773, adding 0.07% on a daily basis.

Earlier today, the data published jointly by Markit Economics and Commonwealth Bank of Australia showed that the business activity in the service sector in Australia expanded in September while the manufacturing sector fell into the contraction territory with the preliminary Purchasing Managers Index (PMI) slumping to 49.4 from 50.9 in August and missing the market expectation of 50.9. Nevertheless, the pair's reaction to the mixed data was muted during the Asian trading hours.

USD gathers strength ahead of PMI data

On the other hand, heavy selling pressure surrounding the EUR following the disappointing PMI readings both in Germany and the eurozone allowed the Greenback to find demand. The US Dollar Index, which tracks the dollar's value against a basket of six major currencies, rose to its highest level since September 12 at 98.83 earlier in the session and was last at 98.70, where it was adding 0.23% on the day.

Later in the day, Markit Economics' Manufacturing, Composite, and Services PMI data from the US will be looked upon for fresh impetus. Markets expect the Composite PMI to edge lower to 49.6 from 50.7. Additionally, New York Fed President Williams is scheduled to deliver a speech at 13:50 GMT.

Technical levels to consider

AUD/USD

Overview
Today last price 0.6773
Today Daily Change 0.0008
Today Daily Change % 0.12
Today daily open 0.6765
 
Trends
Daily SMA20 0.6805
Daily SMA50 0.6838
Daily SMA100 0.6894
Daily SMA200 0.7004
 
Levels
Previous Daily High 0.6809
Previous Daily Low 0.6759
Previous Weekly High 0.6885
Previous Weekly Low 0.6759
Previous Monthly High 0.6869
Previous Monthly Low 0.6676
Daily Fibonacci 38.2% 0.6778
Daily Fibonacci 61.8% 0.679
Daily Pivot Point S1 0.6746
Daily Pivot Point S2 0.6728
Daily Pivot Point S3 0.6696
Daily Pivot Point R1 0.6796
Daily Pivot Point R2 0.6828
Daily Pivot Point R3 0.6846

 

 

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