The AUDUSD pair, which was previously experiencing a decline, has begun to regain its lost value around the 0.6428 level due to the weakening of the US Dollar.

…
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 recovers its recent losses around 0.6428 amid the weakening of the US Dollar.

The pair currently trades last at 0.64283.

The previous day high was 0.6409 while the previous day low was 0.6332. The daily 38.2% Fib levels comes at 0.6361, expected to provide support. Similarly, the daily 61.8% fib level is at 0.638, expected to provide support.

The AUD/USD pair recovers some lost ground and consolidates near 0.6428 during the early Asian session on Friday. The rebound of the pair is supported by a correction of the US Dollar (USD) and lower US Treasury yields. Meanwhile, the US Dollar Index (DXY) edges lower to 106.10 after retreating from 106.83, the highest since November.

Data released on Thursday revealed that the US real Gross Domestic Product (GDP) expanded at an annual rate of 2.1% in the second quarter, as expected. Additionally, Initial unemployment claims rose from 202,000 to 204,000, below the 215, 000 anticipated. The pending home sales fell 7.1% MoM in August, compared to estimates for a 1.0% drop MoM.

Chicago Federal Reserve (Fed) President Austan Goolsbee said on Thursday that the Fed will return inflation to target and has a chance to do something rare by accomplishing that without a recession. Richmond Fed President Thomas Barkin remarked that the past five months of inflation data have been upbeat but that it is too early to determine what monetary policy would be next. Barkin added that lost data due to the government shutdown would complicate understanding the economy. Investors will assess the narrative of a higher for longer rate in the US against the growth risks posed by the possibility of an imminent US government shutdown. This, in turn, might cap the upside of the Greenback.

On the other hand, data published by the Australian Bureau of Statistics (ABS) on Thursday showed that the nation’s Retail Sales rose 0.2% in August on a monthly basis from a 0.5% increase in July, below the market consensus of 0.3% rise. The softer-than-expected Retail Sales data in August might convince the Reserve Bank of Australia (RBA) to hold the interest rate next week.

Looking ahead, the Australian Private Sector Credit will be due later on Friday. However, market players will closely watch the US Core Personal Consumption Expenditure Price Index, the Federal Reserve’s preferred inflation gauge. The annual figure is expected to decline from 4.25% to 3.9%. The stronger data could potentially lift the US Dollar.

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6428 at the time of writing. Pair opened at 0.6353 and is trading with a change of 1.18 % .

The pair is trading above its 20 Daily moving average @ 0.6422, below its 50 Daily moving average @ 0.6499 , below its 100 Daily moving average @ 0.6593 and below its 200 Daily moving average @ 0.6692

The previous day high was 0.6409 while the previous day low was 0.6332. The daily 38.2% Fib levels comes at 0.6361, expected to provide support. Similarly, the daily 61.8% fib level is at 0.638, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.632, 0.6287, 0.6242
• Pivot resistance is noted at 0.6398, 0.6442, 0.6475

[/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...