AUD

AUDUSD approaching critical support at 200D MA amidst USD strength & China growth concerns

• Will buyers step in at key MA level amidst USD strength?

AUDUSD Technical Analysis

• The AUDUSD pair breaks a key support zone and runs lower. What’s next?

The antipodean currencies fall to fresh five-week lows against the dollar

• The greenback is on a tear in trading so far today, with the more subdued risk mood adding more pressure to the antipodean currencies

Australian January consumer confidence -1.3% m/m (prior +2.7%)

• Westpac Consumer Confidence

Australian weekly consumer confidence survey falls to 84.4 (prior 84.8)

Commodity currencies struggle after the PBOC leave rates unchanged

• The New Zealand dollar is the laggard today and the Australian dollar isn't far behind

Household spending in Australia, December, -3.1% m/m (prior +1.8%)

• Data from CBA on weak spending Australia, negative growth in December

Australian private survey of inflation soared by 1% m/m in December, the most in 17 months

• In other data, Australian ANZ Job Advertisements for December have come in at +0.1% m/m

The AUDUSD is ending an up and down week with bearish tilt but there is work to do

• Despite closing the week with a bearish bias, the AUDUSD shows potential for a reversal as it hovers near key support and resistance levels. Traders should watch for a breakout above the swing level at 0.6738 or a breakdown below the swing area at 0.6676 for further confirmation of direction.

AUDUSD Technical Analysis

• The AUDUSD pair is threatening a downside breakout. What’s next?

Australian data - November home loans +1.0% m/m (expected +1.3%)

Shipping chaos: Industrial action at 3 major east coast Australian ports

• Sydney, Melbourne and Brisbane, with potential to spread to the west coast port of Fremantle

AUDUSD corrects off of the low and tests an old floor from the week.

• Will sellers hold? AUDUSD corrects off low, retesting key resistance level.

Australian December trade data: Exports +1.7% m/m while Imports -7.9%

• The trade balance has shown a massive beat

AUDUSD buyers had their shot today and missed. What next?

• The AUDUSD attempted to break above resistance but failed, resulting in a pullback to a swing area. The currency pair needs to break below the lower end of the swing area to increase bearish bias or move back above the 100-day moving average to tilt the bias to the upside.