Cautious tone on the European equities, fresh USD buying keeps the upside limited. Gravitates around hourly 200-SMA, all eyes on the US core inflation data The AUD/USD has reversed Fridays slide to 0.7020 on Monday, but fails to extend the recovery beyond the 0.7108/10, as tepid tone on the European equities combined with increased demand for the US dollar kept a lid on the prices. The spot traded quite choppy so far this session, unable to find a clear direction amid a tug-a-war between the bulls and the bears. But the bears are seen in charge amid a re-emergence of China slowdown fears and Yuan weakness while the investors’ flight to safety in the US currency also adds to the weight on the Aussie. Further, the negative sentiment towards the risk assets combined with weaker commodities prices, including gold and oil keeps any recovery attempts above 0.7100 short-lived. The focus now shifts towards the US macro news, with the US core PCE to hog the limelight amid other minority reports. AUD/USD Technical levels Resistance: 0.7110 (daily R2), 7160 (Oct. 17 high). 0.7200 (round number). Support: 0.7020 (32-month lows), 0.7000 (key support), 0.6950 (psychological level). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/CHF to drift lower – ING FX Street 4 years Cautious tone on the European equities, fresh USD buying keeps the upside limited. Gravitates around hourly 200-SMA, all eyes on the US core inflation data The AUD/USD has reversed Fridays slide to 0.7020 on Monday, but fails to extend the recovery beyond the 0.7108/10, as tepid tone on the European equities combined with increased demand for the US dollar kept a lid on the prices. The spot traded quite choppy so far this session, unable to find a clear direction amid a tug-a-war between the bulls and the bears. But the bears are seen in charge amid a re-emergence of… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
