AUD/USD struggles near multi-month lows, just above mid-0.6800s


  • US-China trade tensions continue to weigh on the Australian Dollar.
  • Dismal US data-led intraday uptick turns out to be rather short-lived.
  • Tuesday’s RBA policy meeting minutes eyed for some short-term impetus.

The AUD/USD pair held on to its offered tone through the early North-American session and remained within striking distance of multi-month lows set on Friday.

After an early uptick to an intraday high level of 0.6885, the pair met with some fresh supply and drifted into the negative territory for the fourth consecutive session on Monday.

The pair did get a minor lift amid a modest US Dollar weakness following the disappointing release of Empire State Manufacturing Index, albeit once again failed to capitalize on the move.

Sentiment surrounding the China-proxy Australian Dollar remained fragile amid growing concerns over a further escalation in the trade tensions between the world's two largest economies.

Hence, a follow-through weakness, led by some technical selling below multi-month lows near the 0.6860 region, remains a distinct possibility ahead of Tuesday's RBA policy meeting minutes.

The key focus, however, will remain on the latest FOMC monetary policy update, scheduled to be announced on Wednesday, which will help investors to determine the pair's near-term trajectory.

Technical levels to watch

AUD/USD

Overview
Today last price 0.6865
Today Daily Change -0.0007
Today Daily Change % -0.10
Today daily open 0.6872
 
Trends
Daily SMA20 0.6933
Daily SMA50 0.7004
Daily SMA100 0.7061
Daily SMA200 0.7115
Levels
Previous Daily High 0.6919
Previous Daily Low 0.6861
Previous Weekly High 0.7009
Previous Weekly Low 0.6861
Previous Monthly High 0.7062
Previous Monthly Low 0.6862
Daily Fibonacci 38.2% 0.6883
Daily Fibonacci 61.8% 0.6897
Daily Pivot Point S1 0.6849
Daily Pivot Point S2 0.6825
Daily Pivot Point S3 0.679
Daily Pivot Point R1 0.6907
Daily Pivot Point R2 0.6942
Daily Pivot Point R3 0.6966

 

 

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

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD falls below 1.1850 as US consumer sentiment beats

EUR/USD is trading under1.1850, off the previous levels as US consumer sentiment beat estimates with 78.9 points. The Fed refrained from adding more stimulus, supporting the dollar earlier in the week. Investors are eyeing fiscal stimulus talks.

EUR/USD News

GBP/USD falls as the EU reportedly objects Johnson's bill

GBP/USD is trading around 1.2950, off the highs. According to reports, the EU remains opposed to UK PM Johnson's controversial bill, which violates the Brexit accord. 

GBP/USD News

XAU/USD struggles to move back above 100-hour SMA

Gold regained some positive traction on the last trading day of the week and recovered a part of the previous day's losses to over one-week lows. The commodity held on to its intraday gains and traded above the $1950 level through the mid-European session.

Gold News

Ethereum hits Bitcoin's bid to lead the market

Bitcoin risks dominance after the strong rise of Ethereum. Technical indicators show some significant discrepancies keeping the stress on the board. Sentiment levels are improving and bordering on optimism.

Read more

After yesterday's JMMC meeting WTI settles near $40 per barrel

WTI has been through a rollercoaster this week. The liquid gold has been in a downtrend leading into the OPEC+ JMMC meeting and then reversed the whole move. At the meeting the group agreed to extend the compensation period for overproduction till the end of December. 

Oil News

Forex MAJORS

Cryptocurrencies

Signatures