AUD/USD (week of 26-30/04)

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Weekly Summary

New 2 months high for Australian dollar at 0.7818 .

AUD/USD is sliding down from 0.7757 to 0.7712, taking a 44 pip loss (0.58%).

This downslide might be related to financial indicators data published earlier as the Australia Consumer Price Index published on Wednesday came out at 0.6, falling short of the 0.9 projections and continuing its decline from the previous 0.9 figure.

Meanwhile, released today at 1:30 AM, Australia's Private Sector Credit showed an uptick coming in at 0.4, up from the previous number of 0.2.

In the meantime, negative performances are also seen in other symbols, At 1.7, GBP/CAD is down to its lowest value in 4 months. USD/SGD hit a 2 month low, as it dropped to 1.3228

positive performance, however, can be seen looking at other symbols, as after 2 months, Euro hit a fresh high at 1.215. The Kiwi hits 0.7286, highest price in 2 months.

At the same time,

Apr. 30, 2021

Bearish run continues, Australian dollar down to 0.7712 (-0.7%)

(23:06) GMT

AUD/USD has been losing ground for 4 days, shedding a total of 1.08% of its value. Today's session suggests more of the same – After a mostly steady session, Aussie/Dollar lost 53 pips, trading at 0.7712.

Meanwhile, released today at 7:30 PM, Australia's CFTC AUD speculative net positions showed an uptick coming in at -1,400, up from the previous number of -1,800. Released today at 1:30 AM, Australia's Private Sector Credit showed an uptick coming in at 0.4, up from the previous number of 0.2. The Australia Producer Price Index was released today at 1:30 AM with a figure of 0.2, This is better than the previous number of -0.1.

As the day reaches an end, a chart visual study suggests the nearest support level is at 0.7584. In terms of trend indicators, we can see that at 0.7704, Aussie/Dollar made an initial breakout below the 21 day Simple Moving Average, an indication of a negative trend.

Overall, looking at the technical analysis landscape, it seems the Aussie/Dollar is likely to continue pointing down in the short term.

In the meantime, negative performances are also seen in other symbols, The British Pound dropped 138 pips, making its largest single-day fall since September 2020.

However, positive performance can be seen looking at other symbols as GBP/CAD drops below the 1.71 level for the first time in 4 months.

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