AUD/USD remains close to 0.7200, but leaning bearish for Tuesday
- The Aussie remains overly cautious, headed for the downside as economic worries plague AUD investors.
- Mid-tier economic indicators due in the early Tuesday window for the Aussie highlight continued lag in the domestic economy.
AUD/USD remains tied up at the 0.7185 level, seeing little bullish momentum in the new trading week, and the pair remains off-balance amidst disappointing economic data, and a US Dollar that remains fairly-well bid in broader markets amidst trading tensions with China that are back on the rise.
Aussie data in the early Tuesday session broadly missed expectations, with the Aussie Housing Price Index further declining further from -0.7% to -1.5% on an annualized basis, with Business Confidence and Conditions declining slipping to 3 and 11 from 5 and 13, respectively. ANZ's Monthly inflation gauge for October also disappointed. ticking towards the downside from 2.9% to 2.8%.
US-China trade war tensions are back on the docket again as well, and investors will be keeping one foot in the door to safety as China's domestic slowdown appears to be getting worse, and the Aussie finds itself exposed to knock-on downside amidst a broader, global trade contraction.
AUD/USD Technical Levels
Today Last Price: 0.7186
Today Daily change: 0.0 pips
Today Daily change %: 0.00%
Today Daily Open: 0.7186
Previous Daily SMA20: 0.7265
Previous Daily SMA50: 0.7184
Previous Daily SMA100: 0.7235
Previous Daily SMA200: 0.7407
Previous Daily High: 0.7227
Previous Daily Low: 0.7174
Previous Weekly High: 0.7394
Previous Weekly Low: 0.7192
Previous Monthly High: 0.7345
Previous Monthly Low: 0.7072
Previous Daily Fibonacci 38.2%: 0.7207
Previous Daily Fibonacci 61.8%: 0.7194
Previous Daily Pivot Point S1: 0.7164
Previous Daily Pivot Point S2: 0.7143
Previous Daily Pivot Point S3: 0.7112
Previous Daily Pivot Point R1: 0.7217
Previous Daily Pivot Point R2: 0.7249
Previous Daily Pivot Point R3: 0.727