Price hasn’t made a higher high yet and is going to test the dynamic resistance level. IF it got rejected by that, the bearish trend line will be stablished and as long as it is not broken out to the upside, we can expect the price to be dropped around the first support level (0.76636). The AUD/USD pair, the “Aussie”, tells the trader how many US dollars are needed to purchase one Australian dollar . The AUD is a commodity currency whose country’s exports are largely https://umarkets.net/forex/aud-to-usd/ comprised of raw materials (precious metals, oil, agriculture, etc.). Today, foreign exchange market traders will have a chance to take a look at U.S. The Non Farm Payrolls report is projected to show that the economy added 71,000 jobs in December but it remains to be seen whether the actual report will be positive given the serious pressure from the second wave of the virus. On the upside, the nearest resistance level for AUD/USD is located at 0.7760.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external AUD USD factors such as financial, regulatory or political events. Also – pivot points levels for Standard, Fibonacci, Camarilla, Woodie’s and Demark’s are supplied. Information on these pages contains forward-looking statements that involve risks and uncertainties.
A move above 0.7780 will open the way to the test of the resistance at 0.7800. AUD/USD failed to settle above the resistance at 0.7760 and is currently trying to get below the nearest support level at 0.7740.
Prices provided herein may be provided by market makers and not by exchanges. Commodities Our guide explores the most traded commodities worldwide and how to start trading them. Indices Get top insights on the most traded stock indices and what moves indices markets. Cryptocurrencies Find out more about top cryptocurrencies to trade and how to get started. Australia is a big exporter to China and its economy and currency reflect any change in the situation in that country. The Australian Dollar is known by its greater exposure to Asian economies. Also, the pair AUD/USD often rises and falls along with the price of gold.
U S. Dollar Moves Higher Against Australian Dollar
We still see the currency pair moving higher mainly due to the impact of US stimulus despite it’s slowing upward momentum as we await https://umarkets.net/ US data tomorrow including Markit Manufacturing PMI. Based on our view the market will start growing to the underlined resistance.
If AUD/USD settles above this level, it will head towards the resistance at 0.7780. This resistance level has already been tested during the current trading session and proved its strength.
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The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The Australian Dollar and the US Dollar pair belong the Majors, a group of the most popular traded pairs AUD USD in the world. This pair’s popularity soared because traders were attracted to the interest rate differential of the pair. AUDUSD didn’t exhibit much price action after the Australian jobs report which saw the unemployment rate come through at 6.6% vs 6.7% forecast.