AUD/USD struggles to stage a rebound, steadies around 0.7770

  • AUD/USD remains on track to close the day in the negative territory.
  • US Dollar Index clings to small daily gains, stays below 91.00.
  • Focus shifts to first-quarter inflation data from Australia.

The AUD/USD pair failed to build on Monday's impressive gains and dropped to a daily low of 0.7764 before going into a consolidation phase on Tuesday. As of writing, the pair was down 0.35% on a daily basis at 0.7772.

Rising US Treasury bond yields seem to be helping the greenback stay resilient against its rivals. With the benchmark 10-year US T-bond yield gaining more than 1% on Tuesday, the US Dollar Index remains on track to close the day modestly higher a little below 91.00.

Earlier in the day, the data published by the Conference Board showed that the Consumer Confidence Index in the US rose to 121.7 in April, beating the market expectation of 113 by a wide margin. Nevertheless, this upbeat reading has virtually no impact on risk sentiment and Wall Street's three main indexes were last seen losing between 0.1% and 0.35%.

In the early trading hours of the Asian session on Wednesday, the Consumer Price Index data from Australia will be watched closely by market participants. The annual CPI is expected to rise to 1.4% in the first quarter from 0.9% and a higher-than-expected print could weigh on the AUD and vice versa.

AUD/USD outlook

"AUD/USD remains capped below its recent highs at 0.7815/16, as well as the more important 0.7838/49 high," noted Credit Suisse analysts. "A break above here would resolve the aforementioned range to the upside by triggering an irregular basing structure, confirming a resumption of the broader bull trend, suggesting a quick move to 0.7900/05 and then the 2021 high at 0.8000/07."

"A sustained move below 0.7700/7691 would turn the risks lower within the range and complete an intraday ‘double top’, with the next support just below here at 0.7680/74," analysts further added.

Additional levels to keep an eye on


Today last price 0.7771
Today Daily Change -0.0028
Today Daily Change % -0.36
Today daily open 0.7799
Daily SMA20 0.7679
Daily SMA50 0.7722
Daily SMA100 0.7692
Daily SMA200 0.7452
Previous Daily High 0.7816
Previous Daily Low 0.7738
Previous Weekly High 0.7817
Previous Weekly Low 0.769
Previous Monthly High 0.785
Previous Monthly Low 0.7562
Daily Fibonacci 38.2% 0.7786
Daily Fibonacci 61.8% 0.7768
Daily Pivot Point S1 0.7753
Daily Pivot Point S2 0.7706
Daily Pivot Point S3 0.7674
Daily Pivot Point R1 0.7831
Daily Pivot Point R2 0.7862
Daily Pivot Point R3 0.7909



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD jumps towards 1.1950 amid upbeat Eurozone PMIs

EUR/USD rebounds towards 1.1950 after German and Eurozone Preliminary PMIs beat expectations. The US dollar stalls its recovery amid dovish Fed's Powell. US PMIs and Fedspeak remain in focus. 


GBP/USD advances towards 1.4000 ahead of UK PMI

GBP/USD bounces back towards 1.4000 ahead of the UK PMIs. The US dollar pauses its rebound and turns south amid a risk-on market mood. Renewed Brexit optimism also underpins the spot. 


Gold: Battle lines well-defined below $1800

Gold wavers in a narrow range, digesting dovish Powell’s comments. US dollar reverses early gains, despite worsening market mood.

Gold News

Three reasons why SafeMoon price might rally 60% soon

SafeMoon price has experienced a massive sell-off since June 15 as it deviated below its previous range low established on May 23. However, this deviation is likely to revert to the mean, providing an excellent opportunity for an uptrend.

Read more

Apple breaks out of weekly triangle, targets record high

AAPL shares are continuing to push higher as FAANG names and the Nasdaq lead the equity markets higher. Apple shares have struggled for momentum since releasing results in late April as the Nasdaq, in particular, suffered for most of May. 

Read more