#AUDUSD @ 0.65066 US Dollar weakens at the beginning of a busy week. (Pivot Orderbook analysis)
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- US Dollar weakens at the beginning of a busy week.
- AUD/USD rises above 0.6500, next resistance at 0.6530.
- RBA to announce monetary policy decision on Tuesday.
The pair currently trades last at 0.65066.
The previous day high was 0.6524 while the previous day low was 0.6392. The daily 38.2% Fib levels comes at 0.6442, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6473, expected to provide support.
The AUD/USD opened the week under 0.6400 and recently printed fresh daily highs above 0.6500. The pair has been rising constantly since the Asian session and gained momentum on American hours amid a weaker dollar and risk appetite. It peaked at 0.6509 and is still moving with a bullish tone.
The greenback weakened further across the board following the release of US data. The ISM Manufacturing Index dropped more than expected to 50.9 from 52.8. All details of the report showed numbers below market consensus.
US yields hit fresh lows after the ISM. The US 10-year yield that just a week ago was above 4%, is at 3.60%. In Wall Street, stocks are up significantly with the Dow Jones gaining more than 2%. Gold and silver are up sharply at weekly highs.
The combinations of risk appetite and lower yields are helping the AUD/USD but not the AUD/NZD that is falling, currently below 1.1380.
The next critical even for the aussie is the Reserve Bank of Australia (RBA) meeting on Tuesday. Market consensus expects a 50 basis points rate hike. The announcement and the tone of the statement will likely have a significant impact on AUD/USD.
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6498 at the time of writing. Pair opened at 0.6402 and is trading with a change of 1.5 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6498 |
| 1 | Today Daily Change | 0.0096 |
| 2 | Today Daily Change % | 1.5000 |
| 3 | Today daily open | 0.6402 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6661, 50 SMA 0.6834, 100 SMA @ 0.6904 and 200 SMA @ 0.7076.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6661 |
| 1 | Daily SMA50 | 0.6834 |
| 2 | Daily SMA100 | 0.6904 |
| 3 | Daily SMA200 | 0.7076 |
The previous day high was 0.6524 while the previous day low was 0.6392. The daily 38.2% Fib levels comes at 0.6442, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6473, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.6355, 0.6307, 0.6222
- Pivot resistance is noted at 0.6487, 0.6572, 0.6619
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6524 |
| Previous Daily Low | 0.6392 |
| Previous Weekly High | 0.6538 |
| Previous Weekly Low | 0.6363 |
| Previous Monthly High | 0.6916 |
| Previous Monthly Low | 0.6363 |
| Daily Fibonacci 38.2% | 0.6442 |
| Daily Fibonacci 61.8% | 0.6473 |
| Daily Pivot Point S1 | 0.6355 |
| Daily Pivot Point S2 | 0.6307 |
| Daily Pivot Point S3 | 0.6222 |
| Daily Pivot Point R1 | 0.6487 |
| Daily Pivot Point R2 | 0.6572 |
| Daily Pivot Point R3 | 0.6619 |
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