AUD/USD

Updated: 7 hours ago
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Exhaustion set in quickly for the Australian Dollar on Thursday after the bulls took the challenge to a three-year high at US$0.8006.

From the challenge, prices staged a significant downturn and plummeted to US$0.7819 low on Friday as its rival, the greenback (USD), climbs to 90.41 (as of writing).

Meanwhile, investors shrugged off better-than-expected economic data out of the U.S. on Thursday.

First-time jobless claims totalled 730,000 for the week ended Feb. 20, versus a forecast of 828,000, while durable goods orders increased by 3.4% in January, compared to the consensus of 1.0% growth.

Viewing the technical standpoint, due to the posted outside range day, the AUD/USD expectation is only anticipated to strengthen further to the bearish sentiment from a break of US$0.7800-15.

If seen, exposes the region of US$0.7700-25.

The Relative Strength Index (RSI) 3-daily ‘lookback’ indicator has crushed the 50-midway point and supports a negative signal.

Meanwhile, the Moving Average Convergence Divergence (MACD) holds a weak bullish signal as it holds above the 0.00 axis.

The Average Directional Movement Index (ADX) trend indicator is sideways (trendless).

Levels 1st 2nd 3rd
Resistance 0.7975 minor 0.7940 0.8015-25
Support 0.7800-15 0.7700-25 0.7645