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AUD/USD rises from three-day lows to 0.6765 as risk appetite improves

  • Wall Street rises strongly, the Dow Jones gains more than 300 points.
  • Improving risk sentiment boosts Australian dollar.
  • AUD/USD moves in no clear direction, Aussie needs confirmation above 0.6770.

The pair AUD/USD it bounced from levels near 0.6700 and touched a new daily low at 0.6764 during the American session amid a recovery in stock prices on Wall Street.

Improved demand for riskier assets in US markets weighed on the dollar, which reversed its trend and turned negative. The Dow Jones is up 1.03% or 330 points, while the Nasdaq is up more than 2%. US yields are moving in no clear direction, holding close to recent highs. The 10-year yield stands at 3.86% and the 2-year yield at 4.375%.

US economic data released Thursday showed initial claims for jobless benefits rose to 225,000 for the week ending December 24, in line with expectations; continuous requests rose to 1.71 million, the highest level since February. The Chicago PMI will be released on Friday. In Australia it will be a holiday.

0.6765/70 keeps AUD/USD bullish

The AUD/USD pair is moving sideways. On the downside, the pair found support again above the 0.6700 zone. A break to the downside could trigger an acceleration, with the initial target being 0.6675.

If the Aussie manages to rally and holds firm above 0.6770, it would gain momentum and probably rally to test the 0.6800 weekly high area.

technical levels

AUD/USD

Overview
Last price today 0.6752
Today I change daily 0.0018
today’s daily variation 0.27
today’s daily opening 0.6734
Trends
daily SMA20 0.6739
daily SMA50 0.6627
daily SMA100 0.6649
daily SMA200 0.687
levels
previous daily high 0.6801
previous daily low 0.6719
Previous Weekly High 0.6767
previous weekly low 0.6629
Previous Monthly High 0.6801
Previous monthly minimum 0.6272
Fibonacci daily 38.2 0.677
Fibonacci 61.8% daily 0.6751
Daily Pivot Point S1 0.6702
Daily Pivot Point S2 0.667
Daily Pivot Point S3 0.662
Daily Pivot Point R1 0.6784
Daily Pivot Point R2 0.6833
Daily Pivot Point R3 0.6865

Source: Fx Street

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