- Digesting Trump’s comments on China GDP while global growth concerns continue to weigh.
- Bulls await the sentiment on the Tokyo open for the next push higher.
The AUD/USD pair continues to trade around a flat line near the 0.7155 level in early trades, having faltered the recovery from 0.7140 troughs amid a cautious risk environment, as markets digest the latest Chinese GDP numbers and the downward revision to the global growth outlook by the International Monetary Fund (IMF).
The Chinese GDP report showed that the country’s economic growth slowed down to 6.4% in Q4 2018, the weakest since 1990. Meanwhile, the bulls derive support from the latest comments by the US President Trump, as he called for China to reach a “Real” trade deal following the dismal economic growth figures.
Further, markets await fresh trading impetus from the Tokyo open, as the US holiday-led thin trading has had virtually no impact on the spot. In the day ahead, the focus remains on the US-China trade-related headlines and the US existing home sales data for near-term trading opportunities. In the meantime, the pair will continue to take its cues from the risk trends and USD dynamics.
AUD/USD Technical Levels
AUD/USD
Overview:
Today Last Price: 0.7156
Today Daily change: -0.0012 pips
Today Daily change %: -0.17%
Today Daily Open: 0.7168
Trends:
Daily SMA20: 0.7112
Daily SMA50: 0.7183
Daily SMA100: 0.7172
Daily SMA200: 0.7317
Levels:
Previous Daily High: 0.7215
Previous Daily Low: 0.7161
Previous Weekly High: 0.7226
Previous Weekly Low: 0.7146
Previous Monthly High: 0.7394
Previous Monthly Low: 0.7014
Daily Fibonacci 38.2%: 0.7182
Daily Fibonacci 61.8%: 0.7194
Daily Pivot Point S1: 0.7148
Daily Pivot Point S2: 0.7128
Daily Pivot Point S3: 0.7095
Daily Pivot Point R1: 0.7202
Daily Pivot Point R2: 0.7235
Daily Pivot Point R3: 0.7255
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