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

  • Dovish sounding RBA monetary policy statement exerted some fresh pressure on Friday.
  • The USD stood tall near multi-week tops amid the ongoing upsurge in the US bond yields.
  • Softer risk tone further collaborated towards driving flows away from riskier currencies.

The AUD/USD pair maintained it’s heavily offered tone through the early North-American session and is currently placed near the lower end of its weekly trading range, around the 0.6860 region.
The pair failed to capitalize on the previous session's intraday positive move and met with some fresh supply on the last day of the new trading week in reaction to the RBA's dovish sounding Statement of Monetary Policy (SoMP).

Weighed down by a combination of negative forces

The pair was further pressurized by some renewed US Dollar buying interest. As investors digested Thursday's mixed trade-related headlines, a fresh leg of an upsurge in the US Treasury bond yields underpinned the USD demand.
It is worth recalling that officials on Thursday said that China and US have agreed to roll back tariffs in a "phase one" trade deal, while other reports suggested that the matter faced fierce internal opposition in the White House.
Meanwhile, a slightly softer risk tone, as depicted by a cautious mood around equity markets, further collaborated towards driving flows away from perceived riskier currencies – including the Australian Dollar.
Moving ahead, Friday's US economic docket – highlighting the release of Prelim UoM Consumer Sentiment Index – might influence the price action and help traders grab some short-term opportunities.

Technical levels to watch


Today last price 0.6866
Today Daily Change -0.0034
Today Daily Change % -0.49
Today daily open 0.69
Daily SMA20 0.6847
Daily SMA50 0.681
Daily SMA100 0.685
Daily SMA200 0.6949
Previous Daily High 0.6914
Previous Daily Low 0.6861
Previous Weekly High 0.693
Previous Weekly Low 0.681
Previous Monthly High 0.693
Previous Monthly Low 0.667
Daily Fibonacci 38.2% 0.6894
Daily Fibonacci 61.8% 0.6881
Daily Pivot Point S1 0.6869
Daily Pivot Point S2 0.6839
Daily Pivot Point S3 0.6816
Daily Pivot Point R1 0.6922
Daily Pivot Point R2 0.6945
Daily Pivot Point R3 0.6975



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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: 50% Fib capping upside, bearish hammer on D1

EUR/USD's recovery rally from recent lows below 1.10 has stalled around the key Fibo level and a pullback could be in the offing. The pair has repeatedly failed to beat 1.1082.


GBP/USD turns positive above 21-DMA as challenges to Tories recede

With the Tory supporters paying little heed to the previous day’s ITV debate, not to forget a surprise turnaround in the opposition Labour party loyalists, Pound trades  better bid above 1.2900 while heading into the London open on Thu.


USD/JPY bounces-off 50-DMA but lacks follow-through

USD/JPY has bounced up from the 50-day MA support of 108.28. China's Vice Premier Liu He is cautiously optimistic about the prospects of the US-China trade deal. Related markets, however, are not buying Liu He's optimism, keeping the recovery in check. 


Gold: Doji on D1 questions bulls amid mixed trade sentiment

Although the United States’ (US) support for Hong Kong protesters favors the broad risk-off momentum, the mixed response from Chinese diplomats and a bearish candlestick formation question Gold buyers around $1,473 during early Thursday.

Gold News

Hong Kong now a feature in trade negotiations?

The US Senate and House have both passed the Hong Kong Human Rights and Democracy Bill, so now it heads to the desk of US President Trump to either sign or veto it. Sources suggest that the President will sign it into law.

Read more