The Australian dollar has shot higher during the trading session on Tuesday only to give back the gains relatively early.
AUD/USD settled above the resistance at 0.7775 and is trying to settle above the next resistance at 0.7800.
The direction of the AUD/USD on Tuesday is likely to be determined by trader reaction to the main 50% level at .7769.
It’s another quiet day on the economic calendar. Employment figures from the UK will put the Pound in focus later today, however.
The Australian dollar continues to fight downward pressure, although it is worth noting that the 0.78 level is extreme resistance.
AUD/USD is testing the nearest resistance level at 0.7750.
The direction of the AUD/USD on Monday is likely to be determined by trader reaction to the short-term Fibonacci level at .7728.
It’s a quiet day ahead on the economic calendar. There are no material stats to consider, leaving geopolitics and COVID-19 and vaccine news in focus
The Business NZ PMI came in at 63.6, up 9.4 points from February, and the highest monthly result since the survey began in 2002.
The direction of the AUD/USD into the close on Friday is likely to be determined by trader reaction to the short-term Fibonacci level at .7728.
The Australian dollar has exploded for the week, reaching to fill the previous, and now threatens the 0.78 handle.
The Australian dollar has been back and forth during the course of the trading session on Friday, as we continue to stare down the 0.78 handle.
AUD/USD made another attempt to settle above the resistance at 0.7750 but failed to develop sufficient upside momentum.
Economic data from China failed to impress this morning. Later today, finalized inflation figures from the Eurozone and consumer sentiment figures from the U.S will be in focus.
The Australian dollar has rallied slightly during the course of the trading session on Thursday to reach towards the 0.78 level.
AUD/USD settled above 0.7720 and is trying to settle above the next resistance at 0.7750.
The direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the short-term Fibonacci level at .7728.
Eurozone inflation figures and a busy U.S economic calendar put the EUR and the U.S Dollar in focus later today.
AUD/USD Current Price: 0.7727 Australian Westpac Consumer Confidence printed at 6.2% in April up from 2.6% previously. Australia to publish March employment data, with 35K new jobs expected to have been added. AUD/USD turned bullish in the near-term and could keep rallying in the upcoming sessions. Commodity-linked currencies outperformed their European rivals against the greenback, with AUD/USD rallying to 0.7737, a fresh April high. Crude oil prices were the initial trigger, as WTI jumped to above $ 63.00 a barrel following an encouraging EIA report, which showed a third straight week of crude draw. The headline spurred risk appetite, sending US indexes to unexplored territory. Australian data was supportive of the local currency as April Westpac Consumer Confidence printed at 6.2%, up from 2.6% in the previous month. This Thursday, the country will publish April Consumer Inflation Expectations, previously at 4.1%, and March employment figures. The country is expected to have added 35K new jobs in the month, while the unemployment rate is seen down to 5.7%. AUD/USD Short-Term Technical Outlook The AUD/USD pair holds on to gains trading near the mentioned high, facing the next resistance at 0.7770. Once above the level, the path opens for a steeper advance. The 4-hour chart shows that the pair has sharply advanced beyond its 200 SMA for the first time in almost a month, while the 20 SMA slowly gains bullish traction well below the longer one. Technical indicators eased just modestly from intraday highs, holding near overbought readings, a sign of prevalent buying interest. Support levels: 0.7710 0.7690 0.7640 Resistance levels: 0.7770 0.7820 0.7860 View Live Chart for the AUD/USD See more from BenzingaClick here for options trades from BenzingaEUR/USD Forecast: Trades At Fresh April Highs May Correct Lower In The Near-TermAUD/USD Forecast: Holding Within Familiar Levels Without Signs Of What's Next© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The Australian dollar has broken higher during the trading session on Wednesday to break above the 50 day EMA finally.