AUDUSD maintains trend
The pair pulled back slightly in Tuesday's trading, bullish bias remains: Chart
Share this:
The US Dollar was bullish against most of its major pairs on Tuesday with the exception of the CHF. On the US economic data front, the National Federation of Independent Business's Small Business Optimism Index fell to 101.4 on month in November (102.5 expected), from 104.0 in October.
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending December 4th is expected. Wholesale Inventories for the October final reading are expected to rise 0.9% on month, in line with the October preliminary reading. Finally, U.S. Job Openings for October are expected to fall to 6.300 million on month, compared to 6.436 million in September.
The Euro was bullish against most of its major pairs with the exception of the CHF and USD. In Europe, the European Commission has posted Eurozone's final readings of 3Q GDP at +12.5% (vs -11.8% in 2Q). Separately, ZEW survey results of December were released for Germany (current situation at -66.5 vs -66.0 expected, expectations at 55.0 vs 46.0 anticipated).
The Australian dollar was bearish against all of its major pairs.
Source: GAIN Capital, TradingView
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending December 4th is expected. Wholesale Inventories for the October final reading are expected to rise 0.9% on month, in line with the October preliminary reading. Finally, U.S. Job Openings for October are expected to fall to 6.300 million on month, compared to 6.436 million in September.
The Euro was bullish against most of its major pairs with the exception of the CHF and USD. In Europe, the European Commission has posted Eurozone's final readings of 3Q GDP at +12.5% (vs -11.8% in 2Q). Separately, ZEW survey results of December were released for Germany (current situation at -66.5 vs -66.0 expected, expectations at 55.0 vs 46.0 anticipated).
The Australian dollar was bearish against all of its major pairs.
It was a relatively quiet day in the FX markets. The AUD/USD slipped 14 pips making it one of the worst performing pairs among the majors on Tuesday. The pair broke above a bullish falling wedge continuation pattern with key resistance at 0.742 briefly before pulling back slightly towards its 20-day moving average. The uptrend remains in play. Look for the 20-day moving average to maintain support in the trend towards the next key resistance levels of 0.75 and 0.765 in extension. An ideal overlap support can be seen at the 0.7235 level.
Source: GAIN Capital, TradingView
The US Dollar was bullish against most of its major pairs on Tuesday with the exception of the CHF. On the US economic data front, the National Federation of Independent Business's Small Business Optimism Index fell to 101.4 on month in November (102.5 expected), from 104.0 in October.
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending December 4th is expected. Wholesale Inventories for the October final reading are expected to rise 0.9% on month, in line with the October preliminary reading. Finally, U.S. Job Openings for October are expected to fall to 6.300 million on month, compared to 6.436 million in September.
The Euro was bullish against most of its major pairs with the exception of the CHF and USD. In Europe, the European Commission has posted Eurozone's final readings of 3Q GDP at +12.5% (vs -11.8% in 2Q). Separately, ZEW survey results of December were released for Germany (current situation at -66.5 vs -66.0 expected, expectations at 55.0 vs 46.0 anticipated).
The Australian dollar was bearish against all of its major pairs.
Source: GAIN Capital, TradingView
On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending December 4th is expected. Wholesale Inventories for the October final reading are expected to rise 0.9% on month, in line with the October preliminary reading. Finally, U.S. Job Openings for October are expected to fall to 6.300 million on month, compared to 6.436 million in September.
The Euro was bullish against most of its major pairs with the exception of the CHF and USD. In Europe, the European Commission has posted Eurozone's final readings of 3Q GDP at +12.5% (vs -11.8% in 2Q). Separately, ZEW survey results of December were released for Germany (current situation at -66.5 vs -66.0 expected, expectations at 55.0 vs 46.0 anticipated).
The Australian dollar was bearish against all of its major pairs.
It was a relatively quiet day in the FX markets. The AUD/USD slipped 14 pips making it one of the worst performing pairs among the majors on Tuesday. The pair broke above a bullish falling wedge continuation pattern with key resistance at 0.742 briefly before pulling back slightly towards its 20-day moving average. The uptrend remains in play. Look for the 20-day moving average to maintain support in the trend towards the next key resistance levels of 0.75 and 0.765 in extension. An ideal overlap support can be seen at the 0.7235 level.
Source: GAIN Capital, TradingView
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
US Dollar Technical Outlook: DXY Bulls Meet Resistance at Yearly Highs 10 1 2026
The U.S. Dollar has held firm despite fading Fed hike bets, but Friday’s payrolls could test the rally’s staying power.
Tankan Backs BOJ Tightening, but Yen Rate Expectations Ease
Japan’s Tankan supports further BOJ tightening, although softer rate expectations could limit support for the Japanese yen.
AUD/USD hammered by US yields and fading RBA hike bets
US yields, dollar strength and fading RBA hike bets have combined to drive AUD/USD to fresh multi-month lows. The macro and technical bias remains bearish, although history suggests parts of the move are now reaching unusually stretched levels.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.