• AUD/USD saw a stunning rebound on Friday, rallying back to the mid-0.7200s as risk appetite improved.
  • That marks a near 2.0% rebound from Thursday’s post-Russia invasion of Ukraine lows.
  • Next week will be busy with the RBA deciding policy, US jobs and ISM surveys and Aussie GDP plus geopolitics.

AUD/USD saw an ultra-impressive rebound on Friday, with the pair rallying back into the mid-0.7200s despite ongoing uncertainty about the European geopolitical landscape and the global economy as fighting between Russian and Ukrainian forces in Ukraine intensified. The pair currently trades in the 0.7330s, up roughly 1.0% on the day, with the Aussie one of the best performing G10 currencies on the session. That marks a near 2.0% rebound from Thursday’s intra-day sub-0.7100 lows.

The recovery on Friday was in part driven by tailwinds the risk-sensitive Aussie received from a rally in global equity markets as traders took a more sanguine view on recent geopolitical events. Traders said sanctions imposed by the West so far on Russia were “soft”, easing fears about energy supply disruptions somewhat, whilst hopes for a diplomatic solution to the war remained. But market commentators also cited healthy dividend payouts from Australian minors, which are normally converted to USD from AUD, as helping support the Aussie throughout the week.

Analysts said the payout could have been worth as much as A$20B, but have not finished, implying the Aussie might be exposed to more downside risks next week. As geopolitical developments in Europe remain front and centre of investors' minds, next week is likely to remain choppy and headline-driven. But its also a big week for economic data and central bank events. US jobs and ISM survey data for February are due, while down under, the RBA will decide on policy and Q4 Australia GDP figures will be released.

AUD/USd

Overview
Today last price 0.7233
Today Daily Change 0.0059
Today Daily Change % 0.82
Today daily open 0.7174
 
Trends
Daily SMA20 0.7147
Daily SMA50 0.7178
Daily SMA100 0.724
Daily SMA200 0.7338
 
Levels
Previous Daily High 0.7235
Previous Daily Low 0.7094
Previous Weekly High 0.7229
Previous Weekly Low 0.7086
Previous Monthly High 0.7315
Previous Monthly Low 0.6966
Daily Fibonacci 38.2% 0.7148
Daily Fibonacci 61.8% 0.7181
Daily Pivot Point S1 0.71
Daily Pivot Point S2 0.7026
Daily Pivot Point S3 0.6959
Daily Pivot Point R1 0.7242
Daily Pivot Point R2 0.7309
Daily Pivot Point R3 0.7383

 

 

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