Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Aussie edges higher from new 5-month lows on revived US-China trade optimism, focus on FOMC for further direction

AUD/USD chart - Trading View 

AUD/USD edges higher from new 5-month lows at 0.6831 overnight on revived US-China trade optimism.

US President Trump is scheduled to meet his Chinese counterpart Xi ahead of the G20 meeting in Japan next week and markets optimistic about a deal.

The pair is trading rangebound on the day, focus on the FOMC meeting for further direction.

Bias leaning to the downside, Aussie unimpressed by soaring Dalian iron-ore prices which rallied nearly 6% to hit an all-time high of 812 yuan ($117.66) a tonne.

An unimpressive Westpac–Melbourne Institute Leading Index keeps check on upside.

The Westpac Index showed that the Australian economic growth will likely remain below trend through the rest of 2019.

Major trend in the pair remains bearish. Recovery capped below trendline support turned resistance at 0.6885.

Decisive break above 5-DMA could see gains till 21-EMA at 0.6926. Break above 21-EMA to see further upside.

Bears eyes major trendline support at 0.68. Break below will see dip till 0.6744 (Jan 3rd low)

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

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2019-07-02 15:32:08
0m
2019-07-02 15:32:02
0m
2019-07-02 15:30:39
0m
2019-07-02 15:30:27
0m

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 764644764644m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764644764644m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 776464776464m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 764644764644m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 776464776464m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 764644764644m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764644764644m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 764644764644m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.