AUD / USD falls below 0.7800, weakened by dollar advance

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  • Currencies linked to vulnerable commodities with a climate of risk aversion.
  • AUD / USD in neutral territory for the day, after rejection above 0.7800.

The AUD / USD is trading in the 0.7775 zone, practically at the same level it closed on Wednesday. It came after falling from 0.7814 and before a rise in the dollar in a context of fall in the stock markets, which leaves the currencies linked to commodities vulnerable.

So far this week, the AUD / USD is still in positive territory but is moving away from the peak of the current week. The dollar slowly regains strength, supported by the rise in Treasury bond yields and the decline in the stock markets. The expectation of a rapid global recovery is the support of the aussie.

Looking ahead to the next few hours, the focus will continue on Wall Street and bonds. There will also be the weekly report of requests for unemployment benefits in the US and will speak Jerome Powell, the chairman of the Federal Reserve. Your words in this context can have a high impact.

From a technical point of view, the rise of the AUD / USD will gain moment to break above 0.7820. On the downside, the next target can be seen at the Asian session lows at 0.7750. Below the next zone to look out for is 0.7725.

Technical levels

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