AUD/USD to see a break below 0.7666/43 and further corrective weakness towards 0.7502/62 – Credit Suisse

The AUD/USD pair is set to complete an irregular top below 0.7666/43, with next support then seen at 0.7502, which is expected to provide a solid floor, according to economists at Credit Suisse.

Key quotes

“AUD/USD is starting to succumb to its dramatic loss of momentum and with a momentum top now confirmed, we shift from our cautious stance towards a preference for a deeper correction lower.”

“A top would be confirmed below 0.7666/43, which would suggest a deeper fall back to 0.7603/7599, then the 0.7557 low. The size of the small top suggests a move towards the 55-day average and key price low at 0.7502 /7462 is possible, however we would expect the market to find a solid floor here in line with the broader uptrend.” 

“A break above 0.7799/7805 on the back of a hold above 0.7666/43 would still be sufficient to remove the topping risks and instead suggest a much more direct resumption of the core bull uptrend, with the next resistance then seen at the recent and April 2018 high at 0.7816/20.”


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

Latest Forex News

Latest Forex News

Editors’ Picks

LIVE: Nonfarm Payrolls expected to show hiring pickup, dollar set to rock

After Fed Chair Powell sent the dollar surging with his reluctance to halt the bond yield rise, all eyes are on February´s Nonfarm Payrolls figures. An increase of 182K jobs is expected. Live coverage.


EUR/USD slides to new 2021 low on dollar strength, ahead of Nonfarm Payrolls

EUR/USD has hit a new trough near 1.19, the lowest level since December 2020. Fed Chair Powell's reluctance to lower US bond yields is boosting the dollar. The Nonfarm Payrolls report is set to show an increase of 182,000 jobs.


XAU/USD turns south once again, eyes $1670 ahead of NFP

XAU/USD consolidates the downside within a pennant on the 1H chart. RSI has turned south while trending well below the midline. US NFP holds the key as gold struggles below $1700.

Gold News

Crypto market bleeds after Bitcoin’s rejection at $52,000

The cryptocurrency market is still suffering from the impact of Bitcoin’s rejection of $52,000 for the second time in less than two weeks. Declines are likely to gain momentum, with BTC already trading under $50,000.

Read more

US Dollar Index: Upside momentum now looks to 92.46

DXY accelerates the march north and clinches new yearly highs just above 92.00 the figure on Friday.

US Dollar Index News