- 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
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.