AUD/USD surrenders early modest gains, turns flat around 0.6720 level

  • AUD/USD Fails to capitalize on the early uptick and remained capped below mid-0.6700s.
  • Bulls seemed rather unimpressed by the prevailing risk-on mood, subdued USD demand.
  • The focus now shifts to the latest RBA monetary policy meeting minutes, due on Tuesday.

The AUD/USD pair slipped back closer to the lower end of its daily trading range, albeit has still managed to hold its neck above the 0.6700 round-figure mark.

The China-proxy aussie failed to capitalize on its early attempted positive move against its American counterpart and remained capped below last week's swing high level of 0.6750.

Traders preferred to stay on the sidelines

Investors looked past the latest monetary stimulus by the People’s Bank of China, which added to its extensive measures and lowered the medium-term financing rate to a new record low.

The pair also failed to benefit from improving global risk sentiment, which tends to drive flows towards perceived riskier currencies like the Australian dollar, and a subdued US dollar demand.

Market participants seemed reluctant to place any aggressive bets, rather preferred to wait on the sidelines amid relatively thin liquidity conditions on the back of a bank holiday in the US.

In absence of any fresh fundamental catalyst, the pair seems more likely to extend its consolidative price action ahead of the release of the latest RBA monetary policy meeting minutes on Tuesday.

Technical levels to watch


Today last price 0.672
Today Daily Change 0.0005
Today Daily Change % 0.07
Today daily open 0.6715
Daily SMA20 0.6753
Daily SMA50 0.6847
Daily SMA100 0.683
Daily SMA200 0.6856
Previous Daily High 0.6732
Previous Daily Low 0.6708
Previous Weekly High 0.6751
Previous Weekly Low 0.6661
Previous Monthly High 0.704
Previous Monthly Low 0.6682
Daily Fibonacci 38.2% 0.6717
Daily Fibonacci 61.8% 0.6723
Daily Pivot Point S1 0.6705
Daily Pivot Point S2 0.6694
Daily Pivot Point S3 0.6681
Daily Pivot Point R1 0.6729
Daily Pivot Point R2 0.6742
Daily Pivot Point R3 0.6753



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

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex News

Editors’ Picks

EUR/USD holds on to weekly gains near 1.0950

EUR/USD holds near 1.0950 amid broad-based dollar´s weakness. US dismal inflation passed unnoticed in holiday trading. Market cheers Eurogroup agreement on a rescue plan waits from G20 Energy Summit.


GBP/USD pressuring the 1.2500 threshold

Thin trading has kept GBP/USD at its 3-week tops just below the 1.2500 level. UK PM Johnson’s better health condition, and the broad US dollar´s weakness provide support.


Week ahead – China to reveal virus damage on GDP as markets cling onto optimism

As much of the world is stuck in a lockdown, one country where life has started to return to normal will shed some light on the toll of the virus outbreak on its economy as China reports GDP growth estimates. 

Read more

WTI slumps after Mexico rejects OPEC+ deal, G20 Energy Summit eyed

After witnessing a solid recovery in the final week of March, WTI (oil futures on NYMEX) resumed its bearish trend and lost nearly 18% this Easter holiday-shortened week. Day 2 of OPEC+ meeting and G20 Energy Summit in focus. 

Oil News

XAU/USD is ending the week nearing 2020 highs

Gold is nearing the 2020 highs while above the main DMA (daily simple moving average) suggesting that bulls remain in full control of the market. 

Gold News