AUD/USD turns green, hits session high of 0.6730


  • AUD/USD has added more than 10 pips amid mild risk-on in the equities. 
  • Equities are flashing green despite coronavirus scare.

The buying interest around the Australian dollar looks to have strengthened somewhat over the last few minutes, possibly tracking the uptick in the US equity index futures. 

Risk sentiment eyed

The futures on the S&P 500 are currently adding over 0.20% and the major Asian indices except Japan's Nikkei are flashing green. For instance, South Korea's Kospi and China's Shanghai Composite are up 0.23% and 1%, respectively. 

The equities are putting on a good show despite the uptick in the number of coronavirus cases in China and across the globe. A total of 105 people were killed by the coronavirus in mainland China on Sunday, the Chinese National Health Commission (NHC) said.

Further, a total of 2,048 cases were confirmed in mainland China on Sunday. The global tally is also rising with more than 71,319 cases of the virus recorded worldwide.

The Aussie dollar is likely benefitting from the mild risk-on in the equities. At press time, AUD/USD is trading at 0.6725, having hit a high of 0.6730 a few minutes ago. The pair found bids around 0.6714 early Monday. 

The currency could challenge resistance at 0.6750 (Feb. 12 high) in Europe if the risk sentiment continues to remain strong.

It's worth noting that the hedge funds have recently turned bullish on the AUD on hopes that the resilient domestic economy would allow the Reserve Bank of Australia to keep rates on hold in the near term. 

Technical levels

AUD/USD

Overview
Today last price 0.6725
Today Daily Change 0.0010
Today Daily Change % 0.15
Today daily open 0.6715
 
Trends
Daily SMA20 0.6753
Daily SMA50 0.6847
Daily SMA100 0.683
Daily SMA200 0.6856
 
Levels
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

 


 

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