- AUD/USD finds support near 0.6300 amid US Dollar correction.
- Investors don’t seem to agree with the Fed’s Powell’s guidance on interest rates.
- The Australian dollar faced selling pressure as labor demand remained weak in September.
The pair AUD/USD discovers buyer interest near the round level support of 0.6300. The pair bounces as the US Dollar faces a sell-off ahead of Federal Reserve (Fed) Chairman Jerome Powell’s speech. The Dollar Index (DXY) falls sharply to near 106.30.
Investors appear undecided whether the Fed will opt for a hawkish stance due to strong labor market conditions, strong consumer spending and a revival of factory activities or whether it will support neutral interest rates due to rising inflation. US Treasury yields. US 10-year Treasury yields have risen to around 4.94%.
The S&P 500 struggles to maintain the gains generated at the opening, as the general market sentiment is one of caution due to the escalation of the conflicts between Israel and Palestine. On Wednesday, US President Joe Biden said “loud and clear” that the US supports Israel and is willing to provide whatever the nation needs to defend itself from the Hamas army.
For its part, the Australian Dollar came under pressure early on Thursday due to mixed employment data. The hiring of only 6.7 thousand people in September indicates that labor demand was weak. Economists forecast new additions of 20,000, which were significantly lower than the August reading of 63,300. For its part, the unemployment rate fell to 3.6%, compared to estimates and the previous publication of 3.7%.
Looking ahead, the Australian Dollar will dance to the tune of the People’s Bank of China (PBoC) interest rate decision, which will be announced on Friday. As a representative of the Chinese economy, a dovish decision would strengthen the AUD.
AUD/USD
Overview | |
---|---|
Latest price today | 0.6322 |
Daily change today | -0.0014 |
Today’s daily variation | -0.22 |
Today’s daily opening | 0.6336 |
Trends | |
---|---|
daily SMA20 | 0.6377 |
daily SMA50 | 0.6413 |
SMA100 daily | 0.6558 |
SMA200 daily | 0.666 |
Levels | |
---|---|
Previous daily high | 0.6393 |
Previous daily low | 0.6328 |
Previous weekly high | 0.6445 |
Previous weekly low | 0.6286 |
Previous Monthly High | 0.6522 |
Previous monthly low | 0.6332 |
Daily Fibonacci 38.2 | 0.6353 |
Fibonacci 61.8% daily | 0.6368 |
Daily Pivot Point S1 | 0.6312 |
Daily Pivot Point S2 | 0.6287 |
Daily Pivot Point S3 | 0.6247 |
Daily Pivot Point R1 | 0.6377 |
Daily Pivot Point R2 | 0.6418 |
Daily Pivot Point R3 | 0.6442 |
Source: Fx Street

I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.