AUD/USD struggles to pull away from multi-month lows, trades near 0.6870

  • US Dollar Index stays calm near mid-97s on Monday.
  • Coming up: House Price Index from Australia and RBA meeting minutes.

After dropping to its lowest level since January and erasing more than 100 pips for the week, the AUD/USD pair started the new week in a calm manner and is now struggling to stage a recovery. As of writing, the pair was trading at 0.6867, losing 0.07% on a daily basis.

Boosted by the upbeat macroeconomic data releases from the U.S. on Friday, the US Dollar Index, which gauges the greenback's value against a basket of six major currencies, rose above the 97.50 mark and is now moving sideways near that level, waiting for the next significant catalyst. Later in the day, the NAHB Housing Market Index will be released from the U.S. but is unlikely to trigger a sharp reaction.

In the early trading hours of the Asian session, the Reserve Bank of Australia (RBA) will be publishing the minutes of its June meeting, at which the bank decided to cut its policy rate by 25 basis points. The dovish headlines from RBA officials last week hinted at the possibility of the RBA going for another rate cut in the near-term. 

According to Westpac analysts, markets are pricing a 75% probability of a July rate cut and the AUD could come under a renewed selling pressure if the RBA's publication on Tuesday confirms that.

Technical levels to watch for


Today last price 0.6868
Today Daily Change -0.0004
Today Daily Change % -0.06
Today daily open 0.6872
Daily SMA20 0.6933
Daily SMA50 0.7004
Daily SMA100 0.7061
Daily SMA200 0.7115
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

Editors’ Picks

EUR/USD hits two-month lows amid USD strength

EUR/USD has pared its gains that followed upbeat preliminary PMIs for Germany came out above expectations, pointing to a recovery. The USD is advancing amid fears of the coronavirus.


GBP/USD drops below 1.31 amid USD strength, fails to sustain PMI gains

GBP/USD is trading below  1.31 after hitting a fresh high of 1.3172. The UK Manufacturing PMI beat with 49.8 and Services PMI with 52.9. The USD is gaining ground across the board.


Cryptos: Bears take over and draw a bloody moon

Despite appearances, Bitcoin is the asset with the best risk/benefit ratio. The current falls are adjusted to the ranges of the previous rise. Downward momentum expires in the first half of February.

Read more

Gold rebounds above $1560

The XAU/USD pair dropped to a daily low of $1556.70 during the European trading hours as the easing worries over coronavirus becoming a global epidemic and a broad-based USD strength put the pair under bearish pressure.

Gold News

USD/JPY drops to two-week lows near 109.30

The USD/JPY pair reversed its direction during the American trading hours as the risk-off atmosphere allowed the JPY to find demand as a safe-haven.