- The US dollar is mixed on Tuesday, DXY was modestly above 90.00.
- AUD / USD falls modestly, finds support above 0.7730.
The AUD/USD It touched a new daily low at 0.7730 before bouncing towards the 0.7750 area. It continues to move with a bearish intraday bias amid limited price action. A moderately strong US dollar across the board keeps the pair in check.
The DXY is around 90.00. The decline in US yields keeps the dollar limited and, at the same time, a tone of caution among investors supports the demand for the dollar. The debate over what the Fed might do next is gaining attention. US inflation data to be released on Thursday will be closely watched.
Key short-term support at 0.7730
The pair approached the 0.7725 / 30 area that capped the decline on Monday. A break to the downside would clear the way for a test of 0.7700 (intermediate support at 0.7715). On the upside, a consolidation above 0.7750 would remove the negative bias. The next resistance is at 0.7765 (June 7 high) followed by 0.7780, which protects 0.7800.
In a broader perspective, the AUD / USD continues to move sideways between 0.7700 and 0.7800. Last week it traded momentarily lower, but ended the week at 0.7740.
Technical levels
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