#AUDUSD @ 0.67024 The US Dollar is rising across the board after US data and amid risk aversion. (Pivot Orderbook analysis)

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• The US Dollar is rising across the board after US data and amid risk aversion.
• The Australian Dollar is facing downward pressure, drops to monthly lows versus NZD.
• AUD/USD pulled back further from key 0.6800 area, to the 20-day SMA.

The pair currently trades last at 0.67024.

The previous day high was 0.6818 while the previous day low was 0.6744. The daily 38.2% Fib levels comes at 0.679, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6773, expected to provide resistance.

The AUD/USD is falling on Thursday, having the worst day in weeks amid a stronger US Dollar across the board. The pair bottomed during the American session at 0.6688, the lowest level since May 5. AUD/NZD bottomed at 1.0601, the lowest in a month.

The US April Producer Price Index rose 0.2%, below estimates, while Initial Jobless Claims rose more than expected to the highest level since October 2021. The data points to an easing labor market and slowing inflation.

US bond yields are sharply lower. The US 10-year yield dropped to 3.34%, the lowest since May 4, while the 2-year fell to 3.81%. Despite lower Treasury yields, the US Dollar is up across the board as US stocks tumble. The Dow Jones is falling by 1.05% and the S&P 500 drops 0.60%.

The weaker risk tone pushes the Greenback higher across the board, putting pressure on the AUD/USD to the downside. The pair is experiencing a significant decline, marking its worst performance in weeks, primarily due to the strength of the US Dollar.

The pair reached its lowest point during the American session, hitting 0.6688, the lowest level since May 5. It is testing the 20-day Simple Moving Average (SMA) after being rejected from above the 0.6800 area. It has been trading within a broad range, and if it continues to consolidate below 0.6680, it suggests a potential for additional losses, with a target around 0.6640.

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6702 at the time of writing. Pair opened at 0.678 and is trading with a change of -1.15 % .

The pair is trading above its 20 Daily moving average @ 0.6698, above its 50 Daily moving average @ 0.6686 , below its 100 Daily moving average @ 0.6791 and below its 200 Daily moving average @ 0.6726

The previous day high was 0.6818 while the previous day low was 0.6744. The daily 38.2% Fib levels comes at 0.679, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6773, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.6743, 0.6707, 0.6669
• Pivot resistance is noted at 0.6817, 0.6855, 0.6891

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