#AUDUSD @ 0.66149 US growth data comes in below expectations. (Pivot Orderbook analysis)
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- US growth data comes in below expectations.
- US Dolla rises across the board boosted by US yields.
- AUD/USD up marginally, off highs after losing ground for four days in a row.
The pair currently trades last at 0.66149.
The previous day high was 0.6639 while the previous day low was 0.6592. The daily 38.2% Fib levels comes at 0.661, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6621, expected to provide resistance.
The AUD/USD is rising marginally on Thursday after it trimmed gains on the back of US economic data. The pair peaked on Asian hours at 0.6635 and recently fell to 0.6594. It is hovering around 0.6610, with a bearish bias amid a stronger US Dollar.
The US Dollar strengthened following the US Q1 GDP report. The economy grew at an annualized rate of 1.1%, below expectations. Personal Consumption Expenditures Prices rose by more than anticipated by 4.2%. Initial Jobless Claims for the week ended April 21 resulted in 230K, better than the expected 248K. Pending Home Sales declined by 5.2% on a monthly basis in March.
The numbers pointed to slower growth and somewhat persistent inflation pressures. US yields are sharply higher, boosting the US Dollar across the board. The 10-year yield is at 3.52% and the 2-year at 4.06%.
More US data is due on Friday with the Core Personal Consumption Expenditures Price Index and Income and Spending figures. Next week is the FOMC meeting. Market participants looks for a final 25 basis points rate hike.
The Reserve Bank of Australia will also have its monetary policy meeting next week. The RBA is expected to keep rates unchanged for the second meeting in a row.
The AUD/USD is moving sideways on Thursday, after posting the lowest daily close in a month around 0.6600. The pair has fallen during the last four days, and is attempting to stabilize.
A consolidation below 0.6600 would expose March lows at 0.6560/65; with a break lower likely to trigger a downside acceleration.
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6613 at the time of writing. Pair opened at 0.6601 and is trading with a change of 0.18 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6613 |
| 1 | Today Daily Change | 0.0012 |
| 2 | Today Daily Change % | 0.1800 |
| 3 | Today daily open | 0.6601 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6698, 50 SMA 0.6708, 100 SMA @ 0.6796 and 200 SMA @ 0.674.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6698 |
| 1 | Daily SMA50 | 0.6708 |
| 2 | Daily SMA100 | 0.6796 |
| 3 | Daily SMA200 | 0.6740 |
The previous day high was 0.6639 while the previous day low was 0.6592. The daily 38.2% Fib levels comes at 0.661, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6621, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.6582, 0.6563, 0.6534
- Pivot resistance is noted at 0.663, 0.6658, 0.6677
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6639 |
| Previous Daily Low | 0.6592 |
| Previous Weekly High | 0.6772 |
| Previous Weekly Low | 0.6678 |
| Previous Monthly High | 0.6784 |
| Previous Monthly Low | 0.6564 |
| Daily Fibonacci 38.2% | 0.6610 |
| Daily Fibonacci 61.8% | 0.6621 |
| Daily Pivot Point S1 | 0.6582 |
| Daily Pivot Point S2 | 0.6563 |
| Daily Pivot Point S3 | 0.6534 |
| Daily Pivot Point R1 | 0.6630 |
| Daily Pivot Point R2 | 0.6658 |
| Daily Pivot Point R3 | 0.6677 |
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