AUD/USD catches some lift on Aussie data beats, US Dollar eases back ahead of Fed


  • The AUD/USD is trading near 0.6375, trading into the top side for Monday.
  • US Dollar bidding pressure is easing back as investors brace for Fed rate call in the mid-week.
  • Aussie Retail Sales beat expectations, giving a much-needed boost for the AUD.

The AUD/USD is trading upwards for Monday, looking for an extended bid into the 0.6380 level after the Aussie (AUD) caught some bidding momentum after Australian Retail Sales beat expectations, helping the Aussie capitalize on a Greenback (USD) that is treading water ahead of the Federal Reserve's (Fed) upcoming rate call on Wednesday.

Australian Retail Sales for September came in at a forecast-thumping 0.9%, well above the expected 0.3% and seeing a significant jump from August's reading of 03%, which was revised upwards from 0.2%.

Australia’s Retail Sales jump 0.9% MoM in September vs. 0.3% expected

On the US side, investors are awaiting the latest showing from the Federal Reserve (Fed) due to come in for a landing on Wednesday, and investors will be keeping their heads down ahead of the US central bank showing.

Fed: Rate hike in December on the table if data point to renewed strong growth in Q4 – Commerzbank

Investors are looking ahead to a potential rate hike from the Fed in December to close out 2023, as US data continues to show a firming-up economy in the face of restrictive monetary policy, and investors are facing down the odds of a rate cut cycle not materializing even further into the future than previously expected.

AUD/USD Technical Outlook

Monday's rebound continuation for the AUD/USD sees the pair set for a challenge of the 0.6400 handle in the near-term, with technical resistance building into the level from the 50-day Simple Moving Average (SMA).

The Aussie settled into a twelve-month low last week, tapping 0.6270 before getting pushed back into recent consolidation.

Aussie bulls will be looking for a chance to push the AUD/USD back into the topside of recent swing highs which built up a resistance zone from 0.6450 to 0.6500.

AUD/USD Daily Chart

AUD/USD Technical Levels

AUD/USD

Overview
Today last price 0.6375
Today Daily Change 0.0040
Today Daily Change % 0.63
Today daily open 0.6335
 
Trends
Daily SMA20 0.6348
Daily SMA50 0.6395
Daily SMA100 0.6535
Daily SMA200 0.6638
 
Levels
Previous Daily High 0.6368
Previous Daily Low 0.632
Previous Weekly High 0.64
Previous Weekly Low 0.627
Previous Monthly High 0.6522
Previous Monthly Low 0.6332
Daily Fibonacci 38.2% 0.635
Daily Fibonacci 61.8% 0.6338
Daily Pivot Point S1 0.6314
Daily Pivot Point S2 0.6293
Daily Pivot Point S3 0.6266
Daily Pivot Point R1 0.6362
Daily Pivot Point R2 0.6389
Daily Pivot Point R3 0.641

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. 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 author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD recovers toward 1.0500 after mixed US PMI data

EUR/USD recovers toward 1.0500 after mixed US PMI data

EUR/USD rebounds toward 1.0500 in the American session on Friday after the data from the US showed that the business activity in the private sector expanded at a softer pace than anticipated in early February. The pair remains on track to end the week with little changed.

EUR/USD News
GBP/USD rises above 1.2650, looks to post weekly gains

GBP/USD rises above 1.2650, looks to post weekly gains

GBP/USD regains its traction and trades above 1.2650 in the second half of the day on Friday. The data from the US showed that the S&P Global Services PMI dropped into the contraction territory below 50 in February, causing the US Dollar to lose strength and helping the pair edge higher.

GBP/USD News
Gold holds above $2,930 as US yields edge lower

Gold holds above $2,930 as US yields edge lower

Gold holds above $2,930 after correcting from the record-high it set above $2,950 on Thursday. Following the mixed PMI data from the US, the benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% and allows XAU/USD to hold its ground.

Gold News
Crypto exchange Bybit hacked for $1.4 billion worth of ETH

Crypto exchange Bybit hacked for $1.4 billion worth of ETH

Following a security breach first spotted by crypto investigator ZachXBT, crypto exchange Bybit announced that it suffered a hack where an attacker compromised one of its ETH wallets.

Read more
Money market outlook 2025: Trends and dynamics in the Eurozone, US, and UK

Money market outlook 2025: Trends and dynamics in the Eurozone, US, and UK

We delve into the world of money market funds. Distinct dynamics are at play in the US, eurozone, and UK. In the US, repo rates are more attractive, and bills are expected to appreciate. It's also worth noting that the Fed might cut rates more than anticipated, similar to the UK. In the eurozone, unsecured rates remain elevated.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025