AUD/USD (week of 29-02/04)

Advertiser Disclaimer
Top8forexbrokers would like to remind you that the data contained in this website is not necessarily real-time nor accurate.Prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Top8forexbrokers does not bear any responsibility for any trading losses you might incur as a result of using this data.
Top8forexbrokers or anyone involved with Top8forexbrokers will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Weekly Summary

At 0.7529 Aussie/Dollar down to its lowest value in 3 months .

AUD/USD weakened earlier in the trading session before moving off the 0.7529 low and recovering almost back to 0.7637. (Start trading Australian dollars at FXTM today).

This downslide might be related to financial indicators data published earlier, as Australia Retail Sales released yesterday at 12:30 AM is better than expected at -0.8 but down from preceding data of 0.3 according to new data.

On the flip side, data for United States Non Farm Payrolls released today at 12:30 PM came out at 916,000, beating projections of 647,000 and showing improvement over the preceding figure of 468,000. The United States Unemployment Rate matches expectations with the new data release of six. This is also a step forward from the previous data of 6.2.

Meanwhile, released today at 8:30 PM, Australia's CFTC AUD speculative net positions showed an uptick coming in at 12,300, up from the previous number of 5,900.

Outlook for the rest of the week: market will be looking forward to upcoming data for Australia Interest Rate figure projected at 0.1 while it previously stood at 0.1, data will be released on Tuesday.

Apr. 2, 2021

Stagnant Aussie/Dollar mostly flat, trades at 0.7609

(23:06) GMT

More of the same: on the back of 6 days of trading sideways Today's session so far looks to be heading in a similar way – the Australian dollar price varies between 0.7594 and 0.7638 and settles at 0.7609.

This in-between state for Aussie/Dollar is reflected by market data published as data for Australia Retail Sales released yesterday at 12:30 AM is better than expected at -0.8, but worse than the previous figure of 0.3. Released today at 8:30 PM, Australia's CFTC AUD speculative net positions showed an uptick coming in at 12,300, up from the previous number of 5,900. Data for United States Non Farm Payrolls released today at 12:30 PM came out at 916,000, beating projections of 647,000 and showing improvement over the preceding figure of 468,000.

As the day reaches an end, a chart visual study suggests the Aussie/Dollar resistance level is at 0.7697. In terms of trend indicators, we can see that at 0.7618, Australian dollar made an initial breakout below the 5 day Simple Moving Average, an indication of a negative trend.

Overall, looking at the technical analysis landscape, it seems the Australian dollar is likely to start pointing downward in the short term.

follow us: