AUD/USD is moving slightly higher after recording losses in the previous session, trading around 0.7040 in early European hours on Thursday. The Australian dollar (AUD) remains robust against the US dollar (USD) following the release of national employment data earlier in the day.
Australian Bureau of Statistics (ABS) data showed the unemployment rate rose to 4.3% in February from 4.1% in January, beating expectations of 4.1%. Meanwhile, employment change increased by 48,900, compared with a revised 26,100. in January (previously 17.8 thousand), significantly above the forecast of 20.3 thousand.
The Reserve Bank of Australia (RBA) has warned that the escalation of tensions in the Middle East could cause a shock to the global economy. The central bank warned that rising risks to the financial system and prolonged disruptions in oil and other markets could boost the likelihood of a significant economic downturn.
Technical analysis of the daily chart indicates that the pair is moving sideways within an ascending channel, suggesting consolidation, and the price is likely to continue its uptrend unless a breakout or breakdown occurs.
The AUD/USD pair is holding above the rising 50-day exponential moving average (EMA) and below the nine-day average, suggesting short-term consolidation within an overall uptrend, with the EMA providing support and the nine-day average limiting the short-term upside.
The 14-day Relative Strength Index (RSI) is just below 50 after retreating from the overbought area seen earlier this month, indicating a weakening of growth momentum but not a complete loss of the bullish structure.
The AUD/USD pair may find immediate resistance at the nine-day EMA at 0.7058, followed by 0.7187, the highest since June 2022. On the other hand, immediate support lies at the lower boundary of the ascending channel around 0.7000, followed by the 50-day EMA at 0.6980.
(The technical analysis for this story was written with the facilitate of an AI tool.)
Today’s price of sterling
The table below shows the current percentage change of the British Pound (GBP) against the major listed currencies. The British pound was strongest against the US dollar.
| USD | EUR | GBP | JPY | BOOR | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.16% | -0.07% | -0.26% | -0.05% | -0.23% | -0.34% | -0.21% | |
| EUR | 0.16% | 0.08% | -0.09% | 0.10% | -0.07% | -0.19% | -0.05% | |
| GBP | 0.07% | -0.08% | -0.19% | 0.03% | -0.15% | -0.27% | -0.14% | |
| JPY | 0.26% | 0.09% | 0.19% | 0.21% | 0.02% | -0.12% | 0.06% | |
| BOOR | 0.05% | -0.10% | -0.03% | -0.21% | -0.17% | -0.31% | -0.17% | |
| AUD | 0.23% | 0.07% | 0.15% | -0.02% | 0.17% | -0.13% | 0.00% | |
| NZD | 0.34% | 0.19% | 0.27% | 0.12% | 0.31% | 0.13% | 0.13% | |
| CHF | 0.21% | 0.05% | 0.14% | -0.06% | 0.17% | -0.01% | -0.13% |
The heat map shows the percentage changes of the major currencies relative to each other. The base currency is selected from the left column and the quote currency from the top row. For example, if you select British Pound from the left column and move along the horizontal line to US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
