AUD/USD (week of 15-19/02)

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Weekly Summary

The Aussie/Dollar is trading around 0.7872 after starting the week at 0.7764 (up 1.38%) .

AUD/USD is hesitant but green - from an earlier low of 0.78, AUD/USD is up to 0.7872 gaining 107 pips compared to the 0.7764 start of the week (1.38%).

A look at other markets shows behavior that usually indicates a green move for the Australian dollar as The Kiwi is up 1.06% to 0.73

At the same time, EUR/AUD is trading around 1.5395 after starting the session at 1.556 (down 165 pips). The EUR/NZD is down 141 pips from the beginning of the session and now trading around 1.6746. Crude is down $1.52 from the beginning of the session and is now trading around $60.52. After starting the session at 1.9348, GBP/NZD lost 158 pips and is trading around 1.919.

Feb. 19, 2021

The Aussie/Dollar traded at 0.7872 after United States Existing Home Sales beat expectations with 6.69 million

(23:06) GMT

Aussie/Dollar today at a glance – AUD/USD rallied 98 pips and maintains at 0.7872 level. United States Existing Home Sales beat expectations with new data of 6.69 million.

The Chart pattern study shows the Australian dollar's immediate resistance is around 0.79, nearest support level is at 0.76. Momentum evaluation shows the Relative Strength Index has fallen below 70 – exiting overbought conditions and indicating possible moderate gains or a downward correction is a head. Asset volatility analysis shows that the upper Bollinger band is at 0.7879, This is a slight indication of a slowdown. However, the CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend.

Overall, looking at the technical analysis landscape, it seems a reverse of course in the short term might be next for the Aussie/Dollar

The Kiwi is up 1.06%. EUR/AUD is down 165 points from the beginning of the session and now trading around 1.556. The EUR/NZD is down 141 pips from the beginning of the session and now trading around 1.6746.

Australia Retail Sales released earlier showed an improvement to 0.6 from the preceding data of -4.1, but falls short of the projected two. Australia Employment Change published yesterday at 12:30 AM came out at 29,100, falling short of the 40,000 projections and continuing its decline from the previous 50,000 figure.

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