- AUD/USD is again approaching its monthly low amid strong tracking of USD buying.
- Upbeat US macro data reaffirms hawkish Fed expectations and boosts the USD.
- The prevailing risk averse state also benefits the dollar and weighs on the risk sensitive Aussie.
The pair AUD/USD It maintains its strongly offered tone during the early stages of the North American session and falls back near the monthly low in reaction to the encouraging macroeconomic data from the United States. The pair is currently trading around the 0.6885-0.6880 zone, and the bears are now looking for a sustained break below the 50-day SMA before placing further bets.
The US Census Bureau reported that monthly Retail Sales grew 3% in January, well above estimates of 1.8%. In addition, core retail sales excluding autos rose 2.3% during the reported month, up sharply from the 0.9% (upwardly revised) decline recorded in December. Elsewhere, the New York Fed’s Empire State Manufacturing Index also beat expectations, improving to -5.8 in February from -32.9 previously.
The data confirmed bets on further Fed tightening and gave fresh impetus to the US dollar, which in turn put AUD/USD lower. Meanwhile, concerns over economic difficulties stemming from rapidly rising borrowing costs weigh on global risk sentiment. This is evident in the sea of ​​red sweeping through the equity markets and is seen as another factor weighing on the risk-sensitive Aussie.
From a technical point of view, the AUD/USD pair seems to have confirmed a bearish through an uptrend line extending from the October 2022 low. A follow-through selling below the 50-day SMA will reaffirm the negative bias. This should pave the way for an extension of the recent pullback from the highest level since June 2022, around the 0.7155-0.7160 zone touched earlier this month.
Technical levels to watch
AUD/USD
Overview | |
---|---|
Last price today | 0.6891 |
Today Daily Variation | -0.0101 |
today’s daily variation | -1.44 |
today’s daily opening | 0.6992 |
Trends | |
---|---|
daily SMA20 | 0.7002 |
daily SMA50 | 0.688 |
daily SMA100 | 0.6695 |
daily SMA200 | 0.6806 |
levels | |
---|---|
previous daily high | 0.703 |
previous daily low | 0.6922 |
Previous Weekly High | 0.7011 |
previous weekly low | 0.6856 |
Previous Monthly High | 0.7143 |
Previous monthly minimum | 0.6688 |
Fibonacci daily 38.2 | 0.6988 |
Fibonacci 61.8% daily | 0.6963 |
Daily Pivot Point S1 | 0.6932 |
Daily Pivot Point S2 | 0.6873 |
Daily Pivot Point S3 | 0.6824 |
Daily Pivot Point R1 | 0.7041 |
Daily Pivot Point R2 | 0.7089 |
Daily Pivot Point R3 | 0.7149 |
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.