AUD/USD Technical Analysis: 0.7179 is the level to beat for the AUD bulls, focus on China data


  • AUD/USD created a classic "long-tailed" doji candle yesterday, signaling strong dip demand at the 100-day moving average (MA) line.
  • That said, traders usually wait for a strong follow through, preferably a break above the high of the long-tailed doji.
  • So, a move above 0.7179 (yesterday's high) may invite stronger buying pressure, leading to a move higher toward 0.7295 (Jan. 31 high).
  •  A convincing break above 0.7179 could happen later today if China's industrial production, retail sales, and Q1 GDP better estimate.
  • In particular, a stronger than expected rebound in industrial production would add credence to upbeat PMI numbers released earlier this month and strengthen the narrative that the industrial cycle is on the verge of recovery.
  • The AUD may revisit the previous day's low of 0.7139 if the China macro data disappoint expectations. That said, only a close below that level would confirm a bearish doji reversal.
  • As of writing, the AUD/USD pair is trading at 0.7167, having hit a low of 0.7153.

Daily chart

Trend: Bullish above 0.7179    

AUD/USD

Overview
Today last price 0.7167
Today Daily Change -0.0008
Today Daily Change % -0.11
Today daily open 0.7175
 
Trends
Daily SMA20 0.7119
Daily SMA50 0.7108
Daily SMA100 0.7138
Daily SMA200 0.7192
Levels
Previous Daily High 0.718
Previous Daily Low 0.7139
Previous Weekly High 0.7193
Previous Weekly Low 0.7087
Previous Monthly High 0.7168
Previous Monthly Low 0.7002
Daily Fibonacci 38.2% 0.7164
Daily Fibonacci 61.8% 0.7155
Daily Pivot Point S1 0.7149
Daily Pivot Point S2 0.7124
Daily Pivot Point S3 0.7108
Daily Pivot Point R1 0.719
Daily Pivot Point R2 0.7206
Daily Pivot Point R3 0.7231

 

          

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD falls below 1.1250 as US retail sales beat expectations

EUR/USD is trading below 1.1250, extending its slide. US retail sales beat expectations with the control group rising by 0.5% in May on top of upward revisions. US-Sino trade tensions are in play.

EUR/USD News

GBP/USD falls towards 1.2600 after US retail sales

GBP/USD is trading closer to 1.2600, around the weekly lows. US retail sales beat expectations and trade tensions also boost the USD. The UK is bracing for Boris Johnson to become PM. US consumer confidence is next.

GBP/USD News

USD/JPY climbs to mid-108s as 10-year US T-bond yield erases losses

Today's upbeat macroeconomic data releases from the United States provided a boost to the greenback and allowed the USD/JPY pair to advance to a session top of 108.50.

USD/JPY News

Gold surges through $1350 level, highest since April 2018

Gold caught some aggressive bids in the last hour and surged to the highest level since April 2018, around the $1358 region.

Gold News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Alone in the dark of outer space...heading to the Moon

It is almost usual practice of the Crypto market that technical extremes occur at the end of the working week – setting the stage for action over the weekend.

Read more

Majors

Cryptocurrencies

Signatures