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AUD: A$ Little Changed Despite Higher US Equity Futures, AUD/JPY Near 93.00

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AUD/USD tracks near 0.6285/90 in early Friday dealings. The A$ lost 0.57% for Thursday's session, with intra-session lows just under 0.6270, so not too far away from current levels. The A$ was the second worst performer on Thursday after SEK, and dipped nearly 0.90% versus the yen, as equity risk off gripped markets. 

  • Technically for AUD/USD, on the downside, a move below 0.6187, the Mar 4 low, is required to reinstate a bear threat and open the bear trigger at 0.6088, the Feb 3 low. Still, a short-term bullish theme in AUDUSD remains intact for now. A resumption of gains would expose key short-term resistance at 0.6409, the Feb 21 high.
  • Both US and EU equity markets finished weaker on Thursday, amid concerns around US/EU trade tensions escalating. We have seen US futures open up firmer in the first part of Friday trade, Eminis last around +0.50% higher. This followed headlines the Democrats would aim to prevent a near term government shutdown.
  • AUD/JPY is marginally higher in early Friday dealings, the pair last near 93.00. Thursday lows were at 92.54.  Both 20- and 50-day EMAs have acted as strong resistance, keeping a bearish threat at the fore. Two lows at 91.86 provide initial support, of which a breach would target a move to the carry unwind lows around 90.00 from August last year.
  • The local data calendar is empty in Australia until next week, with the main focus on Feb jobs data (out next Thursday). 
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AUD/USD tracks near 0.6285/90 in early Friday dealings. The A$ lost 0.57% for Thursday's session, with intra-session lows just under 0.6270, so not too far away from current levels. The A$ was the second worst performer on Thursday after SEK, and dipped nearly 0.90% versus the yen, as equity risk off gripped markets. 

  • Technically for AUD/USD, on the downside, a move below 0.6187, the Mar 4 low, is required to reinstate a bear threat and open the bear trigger at 0.6088, the Feb 3 low. Still, a short-term bullish theme in AUDUSD remains intact for now. A resumption of gains would expose key short-term resistance at 0.6409, the Feb 21 high.
  • Both US and EU equity markets finished weaker on Thursday, amid concerns around US/EU trade tensions escalating. We have seen US futures open up firmer in the first part of Friday trade, Eminis last around +0.50% higher. This followed headlines the Democrats would aim to prevent a near term government shutdown.
  • AUD/JPY is marginally higher in early Friday dealings, the pair last near 93.00. Thursday lows were at 92.54.  Both 20- and 50-day EMAs have acted as strong resistance, keeping a bearish threat at the fore. Two lows at 91.86 provide initial support, of which a breach would target a move to the carry unwind lows around 90.00 from August last year.
  • The local data calendar is empty in Australia until next week, with the main focus on Feb jobs data (out next Thursday).