AUD/USD trades with modest gains, 0.7600 mark remains in sight


  • AUD/USD edged higher for the fourth consecutive session on Thursday.
  • The risk-on mood extended some support to the perceived riskier aussie.
  • A subdued USD price action remained supportive of the intraday uptick.

The AUD/USD pair edged higher heading into the European session and was last seen hovering near the top end of its intraday trading range, around the 0.7580 region.

Following the previous day's pullback from the vicinity of the 0.7600 mark, a combination of factors assisted the AUD/USD pair to gain some positive traction for the fourth straight session on Thursday. The underlying bullish sentiment in the financial markets was seen as a key factor lending support to the perceived riskier aussie. Apart from this, a subdued US dollar demand extended some additional support to the major.

The USD, so far, has struggled to capitalize to build on last week's post-FOMC strong move up amid mixed signals on the US inflation. The Fed Chair Jerome Powell said on Tuesday that inflation is rising due to pent-up demand and supply bottlenecks and that the price pressures should ease on their own. Separately, two Fed officials said on Wednesday that the high inflation in the US would last longer than expected.

Atlanta Fed President Raphael Bostic said on Wednesday that inflation will remain well above the Fed's 2% target and that he now expects interest rates need to rise in late 2022. Adding to this, Fed Governor Michelle Bowman indicated that the recovery in the labour market and spending on goods and services have contributed to the upward pressure on consumer prices. Both, however, agreed that the price increase will prove temporary.

That said, a modest uptick in the US Treasury bond yields acted as a tailwind for the greenback. This, in turn, could hold traders from placing any aggressive bets and keep a lid on any runaway rally for the AUD/USD pair. Market participants now look forward to a slew of important US macro data for some impetus later during the early North American session.

The US economic docket highlights the release of the final Q1 GDP print, Durable Goods Orders, the usual Initial Weekly Jobless Claims and Goods Trade Balance figures for May. This, along with the US bond yields and the broader market risk sentiment, might produce some trading opportunities around the AUD/USD pair.

Technical levels to watch

AUD/USD

Overview
Today last price 0.7578
Today Daily Change 0.0004
Today Daily Change % 0.05
Today daily open 0.7574
 
Trends
Daily SMA20 0.7674
Daily SMA50 0.7725
Daily SMA100 0.7721
Daily SMA200 0.7558
 
Levels
Previous Daily High 0.76
Previous Daily Low 0.7537
Previous Weekly High 0.7727
Previous Weekly Low 0.7477
Previous Monthly High 0.7892
Previous Monthly Low 0.7674
Daily Fibonacci 38.2% 0.7576
Daily Fibonacci 61.8% 0.7561
Daily Pivot Point S1 0.754
Daily Pivot Point S2 0.7507
Daily Pivot Point S3 0.7477
Daily Pivot Point R1 0.7603
Daily Pivot Point R2 0.7633
Daily Pivot Point R3 0.7666

 

 

Share: Feed news

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD edges higher above 0.6300 amid risk-on mood

AUD/USD edges higher above 0.6300 amid risk-on mood

AUD/USD is grinding higher above 0.6300 in Friday's Asian trading. The US Dollar licks its wounds amid a positive market sentiment after Trump's reciprocal tariffs are not effective immediately. Hopes of RBA rate cut and Russia-Ukraine peace talks also support the Aussie. 

AUD/USD News
USD/JPY consolidates losses near 152.50

USD/JPY consolidates losses near 152.50

USD/JPY is licking its wounds in tandem with the US Dollar and the US Treasury bond yields, hovering near 152.50 early Friday. Despite a better mood, increased bets for BoJ rate hikes and Japanese verbal intervention continue to underpin the Japanese Yen, remaining a drag on the pair. 

USD/JPY News
Gold price looks to record highs at $2,943 on dovish Fed expectations

Gold price looks to record highs at $2,943 on dovish Fed expectations

Gold price is holding the previous gains while looking to retest the record highs at $2,943 early Friday. Details of the US PPI report continue to back dovish Fed expectations while  US President Trump's reciprocal tariffs plan keeps Gold price afloat. 

Gold News
Ripple's XRP on verge of potential breakout as SEC acknowledges Grayscale XRP ETF filing

Ripple's XRP on verge of potential breakout as SEC acknowledges Grayscale XRP ETF filing

Ripple's XRP is up 4% in the early hours of Friday following the Securities and Exchange Commission acknowledgment of Grayscale's 19b-4 filing to convert its XRP Trust to an ETF.

Read more
Tariffs likely to impart a modest stagflationary hit to the economy this year

Tariffs likely to impart a modest stagflationary hit to the economy this year

The economic policies of the Trump administration are starting to take shape. President Trump has already announced the imposition of tariffs on some of America's trading partners, and we assume there will be more levies, which will be matched by foreign retaliation, in the coming quarters.

Read more
The Best Brokers of the Year

The Best Brokers of the Year

SPONSORED Explore top-quality choices worldwide and locally. Compare key features like spreads, leverage, and platforms. Find the right broker for your needs, whether trading CFDs, Forex pairs like EUR/USD, or commodities like Gold.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025