AUD/USD testing into 0.7050 as Pacific theater steps higher
- The Aussie is catching a bid, rather the greenback is stepping down, in early Friday action.
- 0.7050 remains a popular level for AUD/USD for several months as the pair wraps itself around the key level.
AUD/USD is trading upwards from Thursday's low of 0.7015 as the Pacific markets follow Wall Street's closing lead, with risk appetite looking for a lift through the week's final trading day.
2018 is set to close with the Aussie trading notably into the low end, down a neat 1,000 pips from the year's peak near 0.8100, with the AUD slumping on slowing growth concerns, lagging commodity prices, and the ever-present US-China trade war which threatens to throw the Chinese domestic into a tailspin and take the Australian economy with it.
Both this week and next week remain relatively free of any meaningful Aussie economic data, and the pair will continue to spiral along with broader market sentiment as traders find little reason to bid up the AUD on its own merits.
AUD/USD Technical Levels
Today Last Price: 0.7045
Today Daily change: 11 pips
Today Daily change %: 0.156%
Today Daily Open: 0.7034
Previous Daily SMA20: 0.7176
Previous Daily SMA50: 0.7189
Previous Daily SMA100: 0.7199
Previous Daily SMA200: 0.7364
Previous Daily High: 0.7078
Previous Daily Low: 0.7014
Previous Weekly High: 0.7204
Previous Weekly Low: 0.7038
Previous Monthly High: 0.7345
Previous Monthly Low: 0.7072
Previous Daily Fibonacci 38.2%: 0.7038
Previous Daily Fibonacci 61.8%: 0.7054
Previous Daily Pivot Point S1: 0.7006
Previous Daily Pivot Point S2: 0.6978
Previous Daily Pivot Point S3: 0.6942
Previous Daily Pivot Point R1: 0.707
Previous Daily Pivot Point R2: 0.7106
Previous Daily Pivot Point R3: 0.7134