AUD/USD consolidates the Trump-led upside, eyes 200-DMA

AUD/USD remains better bid as broad based US dollar weakness induced by a non-event Trump’s presser, extends into Asia.

AUD/USD eases from 4-week tops

Currently, the AUD/USD pair trades +0.12% higher at 0.7450, bouncing-off daily lows struck at 0.7430 last hour. The Aussie stalled its bullish move seen yesterday, although clings to gains as sentiment around the Antipodean remains underpinned amid resurgence of copper demand and persistent weakness seen around US treasury yields, which keeps the selling pressure intact on the greenback.

Moreover, a stronger Yuan fix by the Chinese central bank and higher Australian stocks also provide some impetus to the AUD/USD pair, lifting the rate from session troughs. Next of note for the major remains the US jobless claims data and Fedspeaks due later today, while Friday’s Chinese trade balance and US retail sales will provide fresh cues to gauge next direction in the spot.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7487 (100-DMA) above which gains could be extended to the next hurdle located 0.7497 (200-DMA) and 0.7528 (Dec 14 high). On the flip side, the immediate support located 0.7384 (5-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7325 (10-DMA) and below that 0.7300 (round figure).