AUD/USD upside seems capped at 0.7650

Haresh Menghani FXStreet

The AUD/USD pair traded with mild gains but has failed to gain further traction to build on to its up-move and remains capped by 0.7650 immediate resistance.

Having posted a session high near 0.7640, the pair has retraced few pips to currently trade around 0.7625 region as traders remained on the sideline and seemed reluctant in making big bets ahead of the scheduled speech from Federal Reserve Chairwoman Janet Yellen at the central bank’s summer summit at Jackson Hole.

Today's economic calendar features the release of durable goods orders and weekly jobless claims from the US, which would be looked upon by short-term traders for fresh impetus.

Technical levels to watch

From current levels, 0.7600 round figure mark is likely to act as immediate support. A sustained weakness below this immediate support now seems to drag the pair below weekly lows support near 0.7580 region, towards testing 50-day SMA support near 0.7550 region.

On the upside, should the pair extend its appreciating move and a follow through buying interest above 0.7650 strong resistance is likely to assist the pair back towards 0.7700 handle.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD holds steady above 1.1850 as markets eye Eurozone GDP, US CPI inflation releases

The EUR/USD pair trades on a flat note near 1.1870 during the early Asian session on Friday. The major pair steadies amid mixed signals from the latest release of US economic indicators. Traders await the preliminary reading of the Eurozone Gross Domestic Product for the fourth quarter and US inflation data, which are published later on Friday.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold recovers toward $5,000 as focus shifts to US CPI

Gold price is recovering ground toward $5,000 in the Asian session on Friday. The yellow metal tumbled roughly 3.50% on Thursday, with algorithmic traders appearing to amplify the precious metal’s sudden drop. Traders will closely monitor the release of the US Consumer Price Index inflation report for January, which will be released later on Friday.

Ethereum investors face huge unrealized losses following price slump

US spot Ethereum exchange-traded funds flipped negative again on Wednesday after recording net outflows of $129.1 million, reversing mild inflows seen at the beginning of the week, per SoSoValue data. Fidelity's FETH was responsible for more than half of withdrawals, posting outflows of $67 million.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.