AUD/USD trades at fresh session highs near 0.6660 ahead of key US data

by

The AUD/USD pair came under strong bearish pressure toward the end of the American session and fell to 0.6620 area. Heightened US-China tensions over Hong Kong continued to weigh on China-proxy AUD in the early trading hours of the Asian session.

The only data from Australia on Friday showed that the Private Sector Credit remained unchanged on a monthly basis in April and was largely ignored by the market participants.

However, the broad-based USD weakness allowed AUD/USD to stage a rebound ahead of the American session. As of writing, the pair was up 0.42% on a daily basis at 0.6663.

Eyes on US data

Despite the dismal market mood, the greenback is having a hard time finding demand on Friday and the US Dollar Index is now testing 98.00 for the first time since mid-March. Investors seem to be opting out to remain on the sidelines ahead of key macroeconomic data releases from the US.

The US Bureau of Economic Analysis will publish the Personal Income and Personal Spending figures for April. The report will also include the PCE Price Index figures, which are unlikely to trigger a significant reaction. Later in the session, the University of Michigan's Consumer Confidence Index will be looked upon for fresh impetus as well.

Finally, US President Donald Trump is expected to host a news conference on China toward the end of the day.

Technical levels to watch for

AUD/USD

Overview
Today last price 0.6663
Today Daily Change 0.0026
Today Daily Change % 0.39
Today daily open 0.6637

 

Trends
Daily SMA20 0.651
Daily SMA50 0.6343
Daily SMA100 0.6484
Daily SMA200 0.6658

 

Levels
Previous Daily High 0.6668
Previous Daily Low 0.6587
Previous Weekly High 0.6617
Previous Weekly Low 0.641
Previous Monthly High 0.657
Previous Monthly Low 0.598
Daily Fibonacci 38.2% 0.6637
Daily Fibonacci 61.8% 0.6618
Daily Pivot Point S1 0.6593
Daily Pivot Point S2 0.655
Daily Pivot Point S3 0.6513
Daily Pivot Point R1 0.6674
Daily Pivot Point R2 0.6711
Daily Pivot Point R3 0.6754