AUD/USD: Off intraday high below 0.7800 as US dollar marks corrective pullback

AUD/USD trims intraday gains during the two-day run-up.
Market sentiment dwindles amid mixed comments from Fed, inactive Asian session.
US Treasury yields stay pressured, stock futures track Wall Street’s gains.
Risk catalysts remain because the key, inflation headlines are important.
AUD/USD portrays another pullback from 0.7762, around 0.7755 by the press time, before Tuesday’s European session. The Aussie pair has been struggling since early Asia because the US dollar troubles the traders amid downbeat Treasury yields.

Following the initial optimism towards the less-constrained Fedspeak over US inflation, also because the soft Chicago Fed National Activity Index, the US dollar index (DXY) seems struggling lately .

The reason might be traced to the fresh comments from Kansas City Federal Reserve System President Esther George suggesting fears of an inflation surge. Also helping the US dollar buyers might be the consolidation moves amid a light-weight calendar and thin feeds during the Asian session.

It’s worth mentioning that the People’s Bank of China’s (PBOC) intervention also couldn’t entertain AUD/USD traders as markets turn cautious before the key US inflation gauge, up for publishing on Friday. Even so, S&P 500 Futures cheer downbeat US 10-year Treasury yields to duplicate the Wall Street benchmarks.

Moving on, intraday traders will keep their eyes on the Fedspeak for any fresh clues concerning the inflation and/or tapering before the US CB Consumer Confidence data.

Read: US Conference Board Consumer Confidence May Preview: Inflation saps consumer sentiment

Technical analysis
A clear breakout of 200-SMA and bullish MACD back the AUD/USD buyers to attack a downward sloping line from May 11, around 0.7770. Meanwhile, a downside break of 200-SMA near 0.7745 may witness multiple supports round the 0.7700 threshold before dropping back towards the short-term falling support line near 0.7675.

Today last price 0.7754
Today Daily Change 2 pips
Today Daily Change % 0.03%
Today daily open 0.7752

Daily SMA20 0.7766
Daily SMA50 0.7715
Daily SMA100 0.7729
Daily SMA200 0.7513

Previous Daily High 0.7759
Previous Daily Low 0.7706
Previous Weekly High 0.7814
Previous Weekly Low 0.771
Previous Monthly High 0.7819
Previous Monthly Low 0.7531
Daily Fibonacci 38.2% 0.7739
Daily Fibonacci 61.8% 0.7726
Daily Pivot Point S1 0.7719
Daily Pivot Point S2 0.7685
Daily Pivot Point S3 0.7665
Daily Pivot Point R1 0.7772
Daily Pivot Point R2 0.7792
Daily Pivot Point R3 0.7826

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