Friday, October 16, 2026

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FxWirePro: Aussie fails to benefit from upbeat building approvals data, AUD/USD hovers around 50-DMA at 0.7562

According to data released earlier today, Australia's building approvals showed an 11.3 percent m/m rise, beating forecasts for a gain of 1.2 percent. Aussie however, failed to benefit from the upbeat data, trades largel…

By FxWirePro Team
1 min read
FxWirePro: Aussie fails to benefit from upbeat building approvals data, AUD/USD hovers around 50-DMA at 0.7562
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  • According to data released earlier today, Australia's building approvals showed an 11.3 percent m/m rise, beating forecasts for a gain of 1.2 percent.
     
  • Aussie however, failed to benefit from the upbeat data, trades largely unchanged against the greenback in the Asian session.
     
  • Skepticism rising in the markets ahead of  NFP data while the PCE numbers overnight weren't supportive of a hike as soon as Sept.
     
  • AUD/USD is currently hovering around 50-DMA at 0.7562, close above could see further upside.
     
  • The pair finds major support by channel base at 0.7535, break below will see drag upto 100-DMA at 0.75. 
     
  • Stochs are at oversold levels and a bullish rollover with a decisive breakout above 50-DMA could see upside gain traction.
     
  • Upside finds resistance at 0.76, 0.7634 (20-DMA) and 0.7655 (Aug 23 high).
     

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Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team