AUD/USD struggles to find direction, trades flat near 0.7130


  • AUD/USD is staying directionless for the second straight day.
  • US Dollar Index is posting modest gains near 93.00.
  • Focus shifts to mid-tier data from the US and RBA commentary.

The AUD/USD pair edged lower toward 0.7100 during the Asian trading hours but pared its losses to trade flat near 0.7130 ahead of the American session.

USD starts new week on firm footing

The broad-based USD strength at the start of the week caused the pair to lose its traction. The risk-averse market environment, as reflected by the sharp decline seen in some European equity indexes and the S&P 500 futures, seems to be helping the greenback outperform its rivals. The US Dollar Index is currently gaining 0.22% on a daily basis at 92.95.

Earlier in the day, the data from Australia showed that the country posted a larger-than-expected trade surplus but had little to no impact on the AUD's valuation against its peers.

The Federal Reserve Bank of Chicago's National Activity Index and September New Home Sales data will be featured in the US economic docket on Monday. 

During the Asian session on Tuesday,  Reserve Bank of Australia's (RBA) Deputy Governor Guy Debelle and Assistant Governor Michele Bullock will be delivering speeches. Investors expect the RBA to opt out for a rate cut in November and any comments confirming that decision could weigh on the AUD.

Technical levels to watch for

AUD/USD

Overview
Today last price 0.7135
Today Daily Change -0.0004
Today Daily Change % -0.06
Today daily open 0.7139
 
Trends
Daily SMA20 0.7137
Daily SMA50 0.7199
Daily SMA100 0.7107
Daily SMA200 0.6794
 
Levels
Previous Daily High 0.7159
Previous Daily Low 0.71
Previous Weekly High 0.7159
Previous Weekly Low 0.702
Previous Monthly High 0.7414
Previous Monthly Low 0.7004
Daily Fibonacci 38.2% 0.7136
Daily Fibonacci 61.8% 0.7123
Daily Pivot Point S1 0.7106
Daily Pivot Point S2 0.7074
Daily Pivot Point S3 0.7047
Daily Pivot Point R1 0.7165
Daily Pivot Point R2 0.7192
Daily Pivot Point R3 0.7224

 

 

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