- AUD / USD is trading at its highest level in more than two weeks.
- The main Wall Street indices are trading in positive territory.
- The US dollar index seeks to close the second consecutive day lower.
AUD / USD accelerated bullish momentum during US trading hours and rose to its strongest level since mid-August at 0.7384, the pair was up 0.83% on the day to 0.7377.
USD selling continues after US data.
Widespread USD weakness and risk appetite are allowing AUD / USD to rally even higher on Wednesday. Reflecting the bullish market mood, the major stock indices in the United States are trading in positive territory.
Data from the United States revealed earlier in the day that private sector employment increased by 374,000 people in August. With this reading below the market expectation of 613,000, the greenback encountered renewed selling pressure in the second half of the day. As of writing, the US Dollar Index is losing 0.22% to 92.43.
Other data from the United States showed that economic activity in the manufacturing sector continued to expand at a robust pace in August, with the ISM manufacturing PMI improving to 59.9 from 59.5 in July. However, this data did not help the USD outperform its rivals.
On the other hand, better-than-expected growth data from Australia is also providing an additional boost to the AUD.
Technical levels
AUD/USD
| Overview | |
|---|---|
| Today last price | 0.7376 |
| Today’s Daily Change | 0.0061 |
| Today daily change% | 0.83 |
| Today they open every day | 0.7315 |
| Trends | |
|---|---|
| Daily SMA20 | 0.7295 |
| SMA50 daily | 0.7386 |
| SMA100 daily | 0.7557 |
| SMA200 daily | 0.7609 |
| Levels | |
|---|---|
| Previous Daily High | 0.7342 |
| Previous Daily Low | 0.7288 |
| Previous weekly high | 0.7318 |
| Previous Weekly Low | 0.7119 |
| Previous monthly maximum | 0.7427 |
| Previous Monthly Low | 0.7106 |
| Daily Fibonacci 38.2% | 0.7321 |
| Daily Fibonacci 61.8% | 0.7308 |
| Daily Pivot Point S1 | 0.7288 |
| S2 daily pivot point | 0.726 |
| S3 Daily Pivot Point | 0.7233 |
| R1 daily pivot point | 0.7342 |
| Daily pivot point R2 | 0.7369 |
| R3 daily pivot point | 0.7397 |
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