AUD/USD still stuck to 0.7200 as domestic data slumps, trade headlines circle
- AUD/USD remains hampered at the 0.7200 key level.
- Aussie data continues to disappoint, primary AUD driver remains trade war flows.
The AUD/USD paring is still trading around the 0.7200 level, cycling around the critical handle as Antipodean markets await a push in either direction.
Macro data for the Aussie domestic economy continues to disappoint, with Westpac's Consumer Confidence reading for December sliding to just 0.1% from the previous month's 2.8%, and when taken with Tuesday's slumping Housing Price Index data, the Aussie's lack of meaningful momentum is less than surprising.
Early Wednesday headlines see US President Trump dangling the prospect of the Canadian-arrested Huawei CFO's release is seeing a brief spark of bullishness in the Pacific-Asia session, with Trump publicly suggesting via Twitter that the CFO's 'release' could be used as a bargaining chip with the Chinese at the trade negotiating table, though how the US president would secure the Huawei employee's release while still under Canadian jurisdiction, and awaiting sentencing for extradition in a Canadian court. Nevertheless, the Aussie managed to kick upwards into 0.7225, but the region from 0.7180 to 0.7250 remains a tight consolidation range.
AUD/USD Technical Levels
Today Last Price: 0.7223
Today Daily change: 19 pips
Today Daily change %: 0.264%
Today Daily Open: 0.7204
Previous Daily SMA20: 0.7265
Previous Daily SMA50: 0.7184
Previous Daily SMA100: 0.7233
Previous Daily SMA200: 0.7404
Previous Daily High: 0.7226
Previous Daily Low: 0.7183
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%: 0.721
Previous Daily Fibonacci 61.8%: 0.7199
Previous Daily Pivot Point S1: 0.7182
Previous Daily Pivot Point S2: 0.7161
Previous Daily Pivot Point S3: 0.7139
Previous Daily Pivot Point R1: 0.7225
Previous Daily Pivot Point R2: 0.7247
Previous Daily Pivot Point R3: 0.7268