The Australian dollar to US dollar exchange rate, currently at 0.64272, has returned to its previous level at the beginning of the day.

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• The AUD/USD has walked back all of the day

The pair currently trades last at 0.64272.

The previous day high was 0.6432 while the previous day low was 0.6345. The daily 38.2% Fib levels comes at 0.6399, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6378, expected to provide support.

The AUD/USD has slipped over 65 pips on Friday to slide back into the 0.6430 neighborhood as the US Dollar Index (DXY) catches a broad-market lift in investor fears of an impending US government shutdown.

The American government is poised to head straight into a partisan lockdown, which could see next week’s Non-Farm Payrolls (NFP) thrown into question; if the US government agency responsible for assembling and disseminating the NFP figures is furloughed, investors will be missing the regularly-scheduled labor figures.

Australian data failed to spark firm faith in the Aussie this week, after Australian Retail Sales failed to meet market expectations on Thursday. Aussie Retail Sales printed at a disappointing 0.2%, flubbing the previous read of 0.5% and coming in below the forecast 0.3%.

Read More:

AUD/USD clings to the range bound theme – UOB

A re-test of 2022 lows seems inevitable – SocGen

Forex Today: Another positive week for the Dollar

AUD traders will now be looking ahead to next week’s Aussie data docket, with Securities Inflation on Monday and the Reserve Bank of Australia’s (RBA) next rate meeting on Tuesday.

The RBA is broadly forecast to hold rates steady at 4.1% as economic growth languishes for the Antipodean economy, and investors will be looking for any hints in the RBA’s following rate statement report. The RBA is slated to appear at 03:300 GMT on Tuesday.

Friday’s backslide sees the AUD/USD all set for a technical rejection from the 34-day Exponential Moving Average (EMA) on the daily candles, and the pair remains trapped in familiar consolidation.

The AUD remains a weakly-bid currency, and swing lows have been chewing out progressively lower floors near 0.6325.

The 200-day Simple Moving Average (SMA) remains high above current price action near 0.6700, and buyers will first need to contend with pushing the AUD/USD back over the 100-day SMA near 0.6575.

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6432 at the time of writing. Pair opened at 0.6427 and is trading with a change of 0.08 % .

The pair is trading above its 20 Daily moving average @ 0.6419, below its 50 Daily moving average @ 0.6492 , below its 100 Daily moving average @ 0.6591 and below its 200 Daily moving average @ 0.6691

The previous day high was 0.6432 while the previous day low was 0.6345. The daily 38.2% Fib levels comes at 0.6399, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6378, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.637, 0.6314, 0.6283
• Pivot resistance is noted at 0.6458, 0.6489, 0.6546

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