(VIANEWS) - AUD/USD renews an intraday low to around 0.6725 despite the mixed Australian activity data for July. In doing so, the Aussie pair takes clues from the below 50.0 levels of the PMIs, as well as portrays the market's cautious mood ahead of the key week comprising top-tier data/events. That said, the upbeat jobs report from Australia failed to impress the pair buyers in the last week amid broad US Dollar strength.
FXStreet has confirmed that australia's preliminary S&P Global Manufacturing PMI improves to 49.6 from 48.2 prior but the Services PMI drops below 50.0 level to 48.0 versus 50.3 prior, suggesting a contraction in the activities. With this, the S&P Global Composite PMI for July eases to 48.3 from 50.1.
AUD/USD (AUDUSD) has been up by 1.23% for the last 5 sessions. At 00:07 EST on Monday, 24 July, AUD/USD (AUDUSD) is $0.67.
Aud/usd price analysis: bounces off immediate support line towards 0.6750 ahead of US PMI
Overall, AUD/USD portrays a corrective bounce but remains on the bear's radar at the start of the key week., In a case where the AUD/USD price remains bullish past 0.6750, the 200-Hour Moving Average (HMA) surrounding 0.6800 and a downward-sloping resistance line from July 14, close to 0.6830 at the latest, will challenge the Aussie pair buyers before directing them to the previous monthly high of around 0.6900.
AUD/USD's yearly highs and lows, it's 9.035% up from its 52-week low and 8.568% down from its 52-week high.
Volatility
AUD/USD's last week, last month's, and last quarter's current intraday variation average was a negative 0.30%, a positive 0.10%, and a positive 0.56%, respectively.
AUD/USD's highest amplitude of average volatility was 0.39% (last week), 0.65% (last month), and 0.56% (last quarter), respectively.
Forex Price Classification
According to the stochastic oscillator, a useful indicator of overbought and oversold conditions, AUD/USD's Forex is considered to be overbought (>=80).
Previous days news about AUD/USD (AUDUSD)
- Aud/usd bears approach 0.6700 on mixed Australia pmi, focus on US data, fed for clear directions. According to FXStreet on Sunday, 23 July, "However, the broad US Dollar strength, backed by upbeat US data and preparations for this week's Fed meeting weighed on the AUD/USD price.", "A daily closing beneath the 200-DMA level of 0.6720, as well as a seven-week-old rising support line surrounding 0.6710, becomes necessary for the AUD/USD bear's conviction."
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