AUD/USD Technical Analysis: Aussie dips to 0.7100 figure

Flavio Tosti Independent Analyst

AUD/USD daily chart

AUD/USD is trading below its main simple moving average suggesting bearish momentum.

AUD/USD 4-hour chart

AUD/USD is trading below its main SMAs suggesting bearish momentum in the medium-term.

AUD/USD 30-minute chart

AUD/USD is trading below the main SMAs suggesting bearish momentum in the short-term.
A break below 0.7100 on a daily closing basis would open the gates to 0.7030 support.
On the way up resistances are at 0.7130, 0.7150 and 0.7200 level.

Additional key levels

AUD/USD

Overview:
    Today Last Price: 0.7115
    Today Daily change: -23 pips
    Today Daily change %: -0.32%
    Today Daily Open: 0.7138
Trends:
    Daily SMA20: 0.7149
    Daily SMA50: 0.7133
    Daily SMA100: 0.7165
    Daily SMA200: 0.7257
Levels:
    Previous Daily High: 0.7199
    Previous Daily Low: 0.7127
    Previous Weekly High: 0.7207
    Previous Weekly Low: 0.707
    Previous Monthly High: 0.7296
    Previous Monthly Low: 0.6684
    Daily Fibonacci 38.2%: 0.7155
    Daily Fibonacci 61.8%: 0.7172
    Daily Pivot Point S1: 0.711
    Daily Pivot Point S2: 0.7083
    Daily Pivot Point S3: 0.7039
    Daily Pivot Point R1: 0.7182
    Daily Pivot Point R2: 0.7226
    Daily Pivot Point R3: 0.7254

Author

Flavio Tosti

Independent Analyst

EUR/USD: US Dollar to remain pressured until uncertainty fog dissipates

Unimpressive European Central Bank left monetary policy unchanged for the fifth consecutive meeting. The United States first-tier employment and inflation data is scheduled for the second week of February. EUR/USD battles to remain afloat above 1.1800, sellers moving to the sidelines.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold: Volatility persists in commodity space

After losing more than 8% to end the previous week, Gold remained under heavy selling pressure on Monday and dropped toward $4,400. Although XAU/USD staged a decisive rebound afterward, it failed to stabilize above $5,000. The US economic calendar will feature Nonfarm Payrolls and Consumer Price Index data for January, which could influence the market pricing of the Federal Reserve’s policy outlook and impact Gold’s performance.

Week ahead: US NFP and CPI data to shake Fed cut bets, Japan election looms

US NFP and CPI data awaited after Warsh’s nomination as Fed chief. Yen traders lock gaze on Sunday’s snap election. UK and Eurozone Q4 GDP data also on the agenda. China CPI and PPI could reveal more weakness in domestic demand.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.