The AUDUSD pair, currently at 0.64128, remains steady at around 0.6415 following the release of Australian data.

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for FREE REGISTER to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level1)]

• AUD/USD remains flat around 0.6415 after the Australian data.

The pair currently trades last at 0.64128.

The previous day high was 0.6511 while the previous day low was 0.644. The daily 38.2% Fib levels comes at 0.6467, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6484, expected to provide resistance.

The AUD/USD pair remains on the defensive during the early Asian session on Friday. The pair faces some follow-through selling after the Federal Reserve (Fed) decided to hold the interest rate on Wednesday but expected at least one more rate hike for the year. The pair The pair currently trades near 0.6415, losing 0.02% on the day.

Data from the US economic data showed mixed results on Thursday, with the weekly Initial Jobless Claims dropping to 201K, the lowest level since January. Meanwhile, the Philly Fed dropped to -13.5 in September from 12.0 in the previous reading, worse than expected at -0.7. Existing Home Sales fell to 4.04M MoM in August from the previous reading of 4.07M.

The Federal Reserve (Fed) held interest rates unchanged at the 5.25-5.50% range on Wednesday, as widely predicted in the market. Fed Chairman Jerome Powell reaffirmed the Fed’s commitment to achieving 2% inflation in a press conference while mentioning that the Fed is ready to raise rates if necessary. These hawkish remarks boost the Greenback against the Swiss Franc and act as a headwind for the AUD/USD pair.

On the other hand, the recent data from Australia revealed on Friday that the preliminary S&P Global Services PMI posted 50.5 in September, improved from 47.8 in August. While the Manufacturing PMI dropped to 48.2 from 49.6 in the previous reading. The Composite Index was also improved from 48.0 to 50.2.

Looking ahead, market participants will closely monitor the preliminary US S&P Global/CIPS PMI data for September. Traders will take cues from these figures and find trading opportunities around the AUD/USD pair.

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6415 at the time of writing. Pair opened at 0.6448 and is trading with a change of -0.51 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.643, 50 SMA 0.6541, 100 SMA @ 0.6611 and 200 SMA @ 0.6699.

The previous day high was 0.6511 while the previous day low was 0.644. The daily 38.2% Fib levels comes at 0.6467, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6484, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.6421, 0.6395, 0.635
• Pivot resistance is noted at 0.6493, 0.6538, 0.6564

[/s2If]
Download Nehcap EAWe have two EAs that are operational on our LIVE accounts.

1. EA-FIX: Check out the details here. Download EA-FIX . EA-FIX is a non-grid HFT scalper.
2. EA-GROWTH: High quality low dd EA using trend grids. Download EA_GROWTHJoin Our Telegram Group

Share this:

• Facebook
• X

Like this:

Like Loading...