#AUDUSD @ 0.63592 advances to near 0.6380 despite a strong recovery in the US Dollar and bond yields.
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- AUD/USD advances to near 0.6380 despite a strong recovery in the US Dollar and bond yields.
The pair currently trades last at 0.63592.
The previous day high was 0.6349 while the previous day low was 0.6289. The daily 38.2% Fib levels comes at 0.6326, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6312, expected to provide support.
The AUD/USD pair finds an interim resistance after extending recovery to near 0.6380 in the early New York session. The Aussie asset holds onto recovery despite a sharp recovery in the US Dollar and 10-year US Treasury yields, which demonstrates strength in the Australian Dollar.
A power-pack action is anticipated in the Australian Dollar amid the release of the Q3 inflation data, which will be published on Wednesday. As per the estimates, consumer inflation rose by 1.1% against a 0.8% increase in the April-June quarter. On an annualized basis, the inflation grew at a slower pace of 5.3% against the growth of 6.0% recorded earlier. The monthly Consumer Price Index (CPI) accelerated by 5.4% in September vs. 5.2% reading in August.
The US Dollar Index (DXY) climbs to near 106.00 as investors shift focus to the US Q3 Gross Domestic Product (GDP), which will be published on Thursday. As per the expectations, the US economy grew by 4.2% vs. 2.1% growth rate recorded earlier.
AUD/USD delivers a breakout of the Descending Triangle chart part pattern formed on a two-hour scale. A breakout of the aforementioned chart pattern results in wider ticks and heavy volume. Upward-sloping 20-period Exponential Moving Average (EMA) at 0.6340 warrants more upside ahead.
The Relative Strength Index (RSI) (14) shifts into the bullish range of 60.00-80.00, which indicates that bullish momentum has been triggered.
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6357 at the time of writing. Pair opened at 0.6336 and is trading with a change of 0.33 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6357 |
| 1 | Today Daily Change | 0.0021 |
| 2 | Today Daily Change % | 0.3300 |
| 3 | Today daily open | 0.6336 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6362, 50 SMA 0.6403, 100 SMA @ 0.655 and 200 SMA @ 0.6651.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6362 |
| 1 | Daily SMA50 | 0.6403 |
| 2 | Daily SMA100 | 0.6550 |
| 3 | Daily SMA200 | 0.6651 |
The previous day high was 0.6349 while the previous day low was 0.6289. The daily 38.2% Fib levels comes at 0.6326, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6312, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.63, 0.6265, 0.624
- Pivot resistance is noted at 0.636, 0.6384, 0.642
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6349 |
| Previous Daily Low | 0.6289 |
| Previous Weekly High | 0.6393 |
| Previous Weekly Low | 0.6296 |
| Previous Monthly High | 0.6522 |
| Previous Monthly Low | 0.6332 |
| Daily Fibonacci 38.2% | 0.6326 |
| Daily Fibonacci 61.8% | 0.6312 |
| Daily Pivot Point S1 | 0.6300 |
| Daily Pivot Point S2 | 0.6265 |
| Daily Pivot Point S3 | 0.6240 |
| Daily Pivot Point R1 | 0.6360 |
| Daily Pivot Point R2 | 0.6384 |
| Daily Pivot Point R3 | 0.6420 |
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