AUD/USD Is Neutral-To-Bearish In The Near-Term, Critical Support At 0.7675

• The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
• Australian Private Capital Expenditure rose 6.3% in the first quarter of the year.
• AUD/USD is neutral-to-bearish in the near-term, critical support at 0.7675.

The AUD/USD pair is ending Thursday as it started it, trading in the 0.7740 price zone. The pair posted a lower high and a lower low daily basis but held above the 0.7700 level. The pair steadily met sellers on attempts to extend gain despite the positive tone of equities and encouraging Australian data. Q1 Private Capital Expenditure rose 6.3%, much better than the 2% expected. The country won’t publish relevant macroeconomic data this Friday.

AUD/USD Short-Term Technical Outlook

The AUD/USD pair is neutral-to-bearish in the near-term. The 4-hour chart shows that it holds below directionless moving averages, while technical indicators remain within negative levels, although aiming higher. Nevertheless, the bullish potential is limited and dependent on the market’s sentiment. A critical support level comes at 0.7675, the level to break to confirm new leg south.

Support levels: 0.7705 0.7675 0.7640

Resistance levels: 0.7780 0.7820 0.7850

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.