AUD/USD recovery faltered around 0.7790

The Aussie Dollar lost upside momentum just below 0.7800.
The pair’s rally appears capped by the 200-day sma near 0.7820.
RBA minutes failed to surprise markets earlier today.

Pablo Piovano FXStreet

The Aussie Dollar has given away its earlier gains vs. the greenback on Tuesday and is now prompting AUD/USD to retreat to the 0.7780 area amidst a narrow trading range.

AUD/USD well supported around 0.7650

The pair is looking to record its fourth consecutive daily advance today, extending the up move from yearly lows in the mid-0.7600s seen in late March. The correction higher, however, appears to have run out of steam in the 0.7820 region (April 13), where converges the critical 200-day sma.

The rally in AUD has been on the back of better prices in the commodity-complex, easing concerns over the US-China trade war and recent Chinese GDP figures, which showed the Asian economy expanded at an annualized 6.8% during Q1, matching initial estimates.

Earlier in the session, the RBA published its minutes from the latest monetary meeting, although the tone remained largely unchanged.

On the positioning front, AUD speculative net shorts rose to the highest level since January 2 in the week ended on April 10, as shown by the latest CFTC report.

AUD/USD levels to watch

At the moment the pair is losing 0.05% at 0.7777 and a breakdown of 0.7735 (low Apr.12) would open the door to 0.7716 (21-day sma) and finally 0.7641 (2018 low Mar.29). On the other hand, the next resistance aligns at 0.7811 (high Apr.13) seconded by 0.7817 (200-day sma) and then 0.7916 (high Mar.14).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.