OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD trapped near 0.7200 as investors await headlines from China on trade

  • Trapped near familiar levels as markets keep their eyes open for China news.
  • With trade talks likely going nowhere, odds of a positive break for trade talks bodes poorly for the Aussie.

AUD/USD continues to trade around the 0.7200 key level this week, as Pacific markets struggle to pick an overall direction and broader market sentiment remains underbid but refuses to fall as traders await a push from China trade issues.

The Aussie has spiraled around the 0.7200 figure since last Friday as the Antipodean continues to trade in an uninspired fashion, with the broader Pacific-Asia region hanging on for news from US-China trade talks as investors hope for a de-escalation of trade tensions in the region, and even late Tuesday's disappointing showing of the Australian Westpac Consumer Confidence reading for January couldn't derail the overall mood, with the indicator sliding from 0.1% to a worrying -4.7%, but Aussie traders continue to keep their eyes locked on China, and with no details forthcoming for the time being, AUD/USD is left to continue spinning its wheels near the key price handle.

AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.7202
    Today Daily change: 2.0 pips
    Today Daily change %: 0.0278%
    Today Daily Open: 0.72
Trends:
    Previous Daily SMA20: 0.7098
    Previous Daily SMA50: 0.7188
    Previous Daily SMA100: 0.7174
    Previous Daily SMA200: 0.7326
Levels:
    Previous Daily High: 0.7226
    Previous Daily Low: 0.7179
    Previous Weekly High: 0.7236
    Previous Weekly Low: 0.7089
    Previous Monthly High: 0.7394
    Previous Monthly Low: 0.7014
    Previous Daily Fibonacci 38.2%: 0.7208
    Previous Daily Fibonacci 61.8%: 0.7197
    Previous Daily Pivot Point S1: 0.7178
    Previous Daily Pivot Point S2: 0.7155
    Previous Daily Pivot Point S3: 0.7131
    Previous Daily Pivot Point R1: 0.7225
    Previous Daily Pivot Point R2: 0.7249
    Previous Daily Pivot Point R3: 0.7272

 

USD/JPY: 108.75 is a strong hurdle, uptick in JPY likely indicates the risk reset is on shaky grounds

The USD/JPY pair is feeling the pull of gravity in Asia, having established 108.75 as stiff resistance over the last 24 hours. The currency pair is c
Read more Previous

AUD/JPY consolidated on mixed feelings surrounding Brexit

The focus has been elsewhere, although China has been a hot topic and given the crosses close relationship to the market's risk profile, price action
Read more Next
Start livechat