- AUD / USD continues to decline in the second half of the day.
- The US dollar index registers strong daily gains above 93.00.
The downward pressure surrounding the AUD / USD pair strengthened during US trading hours on Tuesday and the pair touched its lowest level since November at 0.7243. At time of writing, AUD / USD was down 1.15% on the day to 0.7252.
Flight to safety drags AUD / USD lower
Risk aversion and widespread USD strength continue to weigh on AUD / USD on the day. Reflecting the gloomy mood of the market, the top three Wall Street indices are losing between 1.1% and 1.3% while the US dollar index rises 0.55% to 93.12.
Earlier in the day, the Reserve Bank of Australia (RBA) July meeting Minutes revealed that the bank has recognized the fact that the delta variant of the coronavirus is hurting the economic recovery and creating uncertainty regarding the prospects.
On the other hand, data released by the US Census Bureau on Tuesday showed that retail sales contracted 1.1% monthly in July, compared with the market consensus for a 0.2% decline. Although the Fed reported that industrial production expanded at a stronger-than-expected rate in July, this reading did not help sentiment improve.
Technical levels to take into account
AUD/USD
| Overview | |
|---|---|
| Today last price | 0.7253 |
| Today I change daily | -0.0084 |
| Today daily change% | -1.14 |
| Today they open every day | 0.7337 |
| Trends | |
|---|---|
| Daily SMA20 | 0.7365 |
| SMA50 daily | 0.7474 |
| SMA100 daily | 0.7599 |
| SMA200 daily | 0.7611 |
| Levels | |
|---|---|
| Previous Daily High | 0.7373 |
| Previous Daily Low | 0.7318 |
| Previous weekly high | 0.739 |
| Previous Weekly Low | 0.7315 |
| Previous monthly maximum | 0.7599 |
| Previous Monthly Low | 0.7288 |
| Daily Fibonacci 38.2% | 0.7339 |
| Daily Fibonacci 61.8% | 0.7352 |
| Daily Pivot Point S1 | 0.7313 |
| S2 daily pivot point | 0.7288 |
| S3 Daily Pivot Point | 0.7258 |
| R1 daily pivot point | 0.7367 |
| Daily pivot point R2 | 0.7398 |
| R3 daily pivot point | 0.7422 |
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
