- AUD / USD rallies above 0.7500 after last week’s slide.
- The US dollar index remains bearish on Monday.
- Retail sales in Australia increased less than expected in May.
After falling to the lowest level of 2021 at 0.7463 on Friday and losing almost 3% on a weekly basis, the pair AU/USD bounced on Monday. At the time of writing, the pair is trading 0.7510, up 0.45% on the day.
DXY begins to correct last week’s rally
Last week, the broad strength of the dollar following the aggressive political outlook from the US Federal Reserve forced the AUD / USD to suffer heavy losses. The US Dollar Index (DXY) gained 2% last week and reached its highest level in more than two months at 92.40. In the absence of high-level data and fundamental developments, the DXY appears to have entered a consolidation phase and was last seen shedding 0.28% at 92.07.
Earlier in the day, data released by the Australian Bureau of Statistics showed retail sales in May rose 0.1%, disappointing market expectations of 0.7%. However, this figure was largely ignored by market participants.
On the other hand, the monthly publication of the Federal Reserve Bank of Chicago revealed that the National Activity Index improved modestly to 0.29 in May from -0.09 in April.
Meanwhile, S&P futures are up 0.45% on the day, suggesting that the dollar could remain in the background if risk flows continue to dominate financial markets in the second half of the day.
Technical levels
AUD/USD
| Overview | |
|---|---|
| Today last price | 0.7509 |
| Today’s Daily Change | 0.0032 |
| Today daily change% | 0.43 |
| Today they open every day | 0.7477 |
| Trends | |
|---|---|
| Daily SMA20 | 0.7703 |
| SMA50 daily | 0.7732 |
| SMA100 daily | 0.7723 |
| SMA200 daily | 0.7555 |
| Levels | |
|---|---|
| Previous Daily High | 0.7562 |
| Previous Daily Low | 0.7477 |
| Previous weekly high | 0.7727 |
| Previous Weekly Low | 0.7477 |
| Previous monthly maximum | 0.7892 |
| Previous Monthly Low | 0.7674 |
| Daily Fibonacci 38.2% | 0.7509 |
| Daily Fibonacci 61.8% | 0.753 |
| Daily Pivot Point S1 | 0.7449 |
| S2 daily pivot point | 0.742 |
| S3 Daily Pivot Point | 0.7364 |
| R1 daily pivot point | 0.7534 |
| Daily pivot point R2 | 0.759 |
| R3 daily pivot point | 0.7619 |
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