Abstract:The AUD/USD reached two-week highs on Wednesday, boosted by a weaker US Dollar, but then pulled back, erasing all gains after failing to hold above 0.6500. The short-term bias is still to the upside but is losing momentum.
AUD/USD Current Price: 0.6475
• Inflation slowed further in July in Australia; Private Credit and CAPEX data due on Thursday.
• US Dollar hit again by weaker than expected US data; Core PCE and Jobless Claims ahead.
• The AUD/USD failed to hold above 0.6500 and lost momentum.
The AUD/USD reached two-week highs on Wednesday, boosted by a weaker US Dollar, but then pulled back, erasing all gains after failing to hold above 0.6500. The short-term bias is still to the upside but is losing momentum.
The Consumer Price Index for July was reported at 4.9%, lower than the market's predicted 5.2% and also below June's 5.4% rate. This outcome will likely be good news for the Reserve Bank of Australia (RBA) as it further reinforces the belief that there'll be no rate increase at the next session. In a separate report, there was a recorded 8.1% decline in Building Permits, a significant dip from the anticipated 0.8% growth. Nevertheless, the inflation figures combined with the drop in building approval rates didn't have a substantial negative impact on the Australian Dollar. There will be a release of data concerning Private Capital Expenditure and Price Secta on Thursday in Australia.
Data from the US again came in below expectations. According to Automatic Data Processing (ADP), private employment grew by 177,000, below the market consensus of 195,000. Q2 GDP growth was revised lower from 2.4% to 2.1%. On Thursday, the focus will be on the Federal Reserve's preferred inflation gauge, the Core Personal Consumption Expenditure Price Index. Additionally, the weekly Jobless Claims and the Chicago PMI will be released. On Friday, the official employment report will be published.
The US Dollar dropped again on Wednesday but showed signs of stabilization later. The data due on Thursday will be critical. In Wall Street, the positive mood vanished and weighed on the Aussie. Chinese data during Thursday's Asian session will also be important for market sentiment and, therefore, the AUD/USD.
AUD/USD short-term technical
The bullish momentum of AUD/USD faded above 0.6500 and pulled back. It is hovering around the 20-day Simple Moving Average (SMA). The Relative Strength Index (RSI) suggests that the upside could resume, but the area between 0.6480 and 0.6500 remains a significant barrier.
On the 4-hour chart, the AUD/USD pair displays a bullish trajectory. However, if it stays under 0.6500, the pullback might persist. The bearish revision can reach up to 0.6450, with a potential support level seen at 0.6440. If the pair dips below 0.6440, a trendline test at 0.6410 could be observed. A drop below this level will shift the short-term preference towards the US Dollar. On the flip side, should the pair stabilize above 0.6500, it stands to gain further. In this case, the first aim would be at 0.6530, followed by 0.6550. Keep an eye on the price movements to make informed decisions.
Support levels: 0.6440 0.6410 0.6380
Resistance levels: 0.6500 0.6530 0.6555
Being made to do a lot of back and forth for withdrawal access endlessly at Binarycent without any success? Receiving unsatisfactory replies from the forex broker officials on withdrawals? Is the bonus unremovable from your forex trade? Have you witnessed capital losses due to manipulative trades by the broker? All these clearly indicate scams at Binarycent, a Marshall Islands-based forex broker. Many have accused the broker of serious fraud allegations online. In this article, we have put their comments. Read on to find out.
If you're thinking about investing in Forex, choosing the right platform is very important. Many traders look for the best forex broker in the world, but not every broker is trustworthy. Read this Defcofx Review to learn if this offshore Forex and CFD broker is safe for investing in Forex? Discover red flags, regulation issues & more.
Emirates NBD has been a problem of plenty for its customers of late. They are accusing the company of foul play in every aspect of the transaction involving credit card scams, pathetic customer service over unresolved queries, and several other issues. Seemingly frustrated over these incidents, many of its customers have called out the United Arab Emirates-based financial services provider a ‘Scammer’ while sharing their reviews online. Read on to find out their reviews.
The U.S. Government is once again asking the courts to delay the sentencing of Renwick Haddow, a British-born fraudster whose name has become synonymous with some of the biggest investment scams of the past decade. Court filings from September 19, 2025, reveal that prosecutors have requested a 90-day adjournment of Haddow’s sentencing, which had been scheduled for October 29.