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FxWirePro: AUD/USD tests 0.72 handle, US dollar selling across the board and rebound in copper prices support

AUD/USD chart on Trading View used for analysis

  • AUD/USD edges marginally higher to test 0.72 handle, intraday bias remains neutral.
     
  • Fresh US dollar selling across the board and a rebound in copper prices supporting upside in the pair.
     
  • However, upside likely to be limited as traders remain cautious as we head into the Fed rate decision.
     
  • Focus also on Australia employment report (due Thursday). Australia’s employment change for the month of November is expected to come in lower at 20.0K, from 32.8K in October.
     
  • Technical studies are still biased lower, with no major signs of reversal.
     
  • The pair is struggling at 0.72 handle from the past few sessions and we see any meaningful upside only above 21-EMA.
     
  • Rejection at 0.72 handle will see resumption of weakness and dip till 78.6% Fib at 0.71 then likely.

Support levels - 0.7163 (61.8% Fib), 0.71 (78.6% Fib and psychological support)

Resistance levels - 0.7198 (50-DMA), 0.7222 (21-EMA), 0.7251 (38.2% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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2019-07-02 15:32:08
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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

Actual

50 %

Forecast

Previous

48.6 %

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 779618779618m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 779618779618m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 767798767798m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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