Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Yesterday’s trade saw AUD/USD within the range of 0.6974-0.7095. The pair closed at 0.7064, shedding 0.15% on a daily basis. It has been the 14th drop in the past 26 trading days. The daily low has been the lowest level since January 26th, when a low of 0.6916 was registered.

At 10:20 GMT today AUD/USD was gaining 0.69% on the day to trade at 0.7113. The pair touched a daily high at 0.7126 at 10:01 GMT, undershooting the upper range breakout level (R4), and a daily low at 0.7038 during the early hours of the Asian trading session.

On Wednesday AUD/USD trading may be influenced by the following macroeconomic reports as listed below.

Fundamentals

United States

Fed Chair Janet Yellens testimony

At 15:00 GMT Federal Reserve Chair, Janet Yellen, is expected to testify before the US Congress. After the testimony a Questions and Answers session will be held, which may trigger high volatility in US stock markets as well as in the Foreign Exchange Market.

Daily and Weekly Pivot Levels

By employing the Camarilla calculation method, the daily pivot levels for AUD/USD are presented as follows:

R1 – 0.7075
R2 – 0.7086
R3 (range resistance) – 0.7097
R4 (range breakout) – 0.7131

S1 – 0.7053
S2 – 0.7042
S3 (range support) – 0.7031
S4 (range breakout) – 0.6997

By using the traditional method of calculation, the weekly pivot levels for AUD/USD are presented as follows:

Central Pivot Point – 0.7107
R1 – 0.7216
R2 – 0.7360
R3 – 0.7469

S1 – 0.6963
S2 – 0.6854
S3 – 0.6710

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Forex Market: USD/CAD daily forecastForex Market: USD/CAD daily forecast During Friday’s trading session USD/CAD traded within the range of 1.0752-1.0826 and closed at 1.0758.At 11:10 GMT today USD/CAD was losing 0.2% for the day to trade at 1.0736. The pair touched a daily low at 1.0717 at 8:05 GMT, breaching […]
  • Gold weekly recap, December 23 – December 27Gold weekly recap, December 23 – December 27 Gold rose on Friday marking the longest winning stretch in four months as a steep decline in the US dollar boosted metals appeal as an alternative investment. The precious metal however remained on track to post the biggest annual drop since […]
  • Natural gas hits fresh 6-1/2-months highs on forecasts for heavy snow and ice across USNatural gas hits fresh 6-1/2-months highs on forecasts for heavy snow and ice across US Natural gas hit a fresh 6-1/2-month high as weather forecasts continued to call for bitter cold temperatures and heavy snows and ice across much of US, increasing demand for natural gas. Thursday’s EIA report for the week ended November 29th […]
  • UPS share price down, announces cost-cutting plan in order to reach ambitious targetsUPS share price down, announces cost-cutting plan in order to reach ambitious targets United Parcel Service Inc. unveiled a five-year plan, including aggressive cost-cutting measures, as the company tries to grasp aspiring growth goals.UPS said the boom in online retailing is an opportunity for the company and not a […]
  • India’s foreign exchange reserves ease from record highIndia’s foreign exchange reserves ease from record high India’s foreign exchange reserves have continued to ease from the record high of $704.9 billion registered in the last week of September.Foreign exchange reserves held by the Reserve Bank of India decreased to $690.4 billion as of […]
  • Forex Market: USD/SGD daily forecastForex Market: USD/SGD daily forecast During yesterday’s trading session USD/SGD traded within the range of 1.2452-1.2477 and closed at 1.2454.At 8:57 GMT today USD/SGD was gaining 0.04% for the day to trade at 1.2463. The pair touched a daily high at 1.2468 at 5:45 […]