AUD/USD recovery finds resistance around 0.7140 and retreats

0
  • The pair failed to benefit from USD slide versus the yen and European currencies. 
  • Key data ahead: Australian employment report.

The recovery of the AUD/USD pair found resistance at the 0.7140 area and pulled back. The pair remains steady, hovering around 0.7130. During the US session bottomed at 0.7122 while it failed to test again 0.7140.

The US Dollar spiked lower against the yen and major European currencies, but AUD/USD held steady, unable to benefit. A retreat from the top in US yields and also in equity prices also took place during the last hour.  

Regarding data, the US Richmond Fed Manufacturing Index improved from -8 to -2 in January. In Australia, on Thursday at 00:30 GMT, the employment report is due. An increase of 16.5K in employment is expected. 

AUD/USD Key levels to watch 

The Aussie remains supported by a weak US dollar but still limited. A break above 0.7140 would open the doors to further gains for the pair. The next resistance is seen at 0.7160 (Jan 22 high). On the flip side, under 0.7120 a test of yesterday’s low at 0.7114 seems likely; below the 0.7100 area would be exposed. 

AUD/USD

Overview:
    Today Last Price: 0.7133
    Today Daily change: 0.0015 pips
    Today Daily change %: 0.21%
    Today Daily Open: 0.7118
Trends:
    Daily SMA20: 0.7121
    Daily SMA50: 0.7181
    Daily SMA100: 0.7171
    Daily SMA200: 0.7311
Levels:
    Previous Daily High: 0.7162
    Previous Daily Low: 0.7115
    Previous Weekly High: 0.7226
    Previous Weekly Low: 0.7146
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Daily Fibonacci 38.2%: 0.7133
    Daily Fibonacci 61.8%: 0.7144
    Daily Pivot Point S1: 0.7102
    Daily Pivot Point S2: 0.7085
    Daily Pivot Point S3: 0.7055
    Daily Pivot Point R1: 0.7149
    Daily Pivot Point R2: 0.7179
    Daily Pivot Point R3: 0.7196

 

Get the 5 most predictable currency pairs

About Author