06.02.2019

The Aussie dollar is being offered across the board in response to comments by Reserve Bank of Australia’s (RBA) governor Lowe that the rate outlook is now more evenly balanced. “Over the past year, the next-move-is-up scenarios were more likely than the next-move-is-down scenarios. Today, the probabilities appear to be more evenly balanced,” Lowe told the National Press Club in Sydney. He added further that if the job market tightened, then rates would rise, but any softening would force the RBA to reassess the situation. The major change in attitude toward interest rates is hurting AUD/USD pair, which is currently trading at the session low of 0.7175 – down 64 pips from the high of 0.7239 seen before Lowe’s speech. It is worth noting that markets already put the chance of a rate cut this year at better than 50-50, even though the RBA, until today, maintained that the next move in rates could be on the higher side. With RBA’s change of tone on interest rates, that rate cut probability could rise further.  So, the path of least resistance for the AUD is now to the downside.  AUD/USD Technical Levels

AUD/USD

Overview:
    Today Last Price: 0.7238
    Today Daily change: 0.0002 pips
    Today Daily change %: 0.03%
    Today Daily Open: 0.7236
Trends:
    Daily SMA20: 0.7187
    Daily SMA50: 0.7169
    Daily SMA100: 0.7174
    Daily SMA200: 0.7289
Levels:
    Previous Daily High: 0.7265
    Previous Daily Low: 0.7194
    Previous Weekly High: 0.7296
    Previous Weekly Low: 0.7138
    Previous Monthly High: 0.7296
    Previous Monthly Low: 0.6684
    Daily Fibonacci 38.2%: 0.7238
    Daily Fibonacci 61.8%: 0.7221
    Daily Pivot Point S1: 0.7198
    Daily Pivot Point S2: 0.716
    Daily Pivot Point S3: 0.7126
    Daily Pivot Point R1: 0.7269
    Daily Pivot Point R2: 0.7303
    Daily Pivot Point R3: 0.7341

Original from: www.fxstreet.com