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AUD/USD chart - Trading View
Technical Analysis: Intraday bias neutral
AUD/USD was holding moderate gains at the time of writing. The pair was trading 0.16% higher on the day at 0.7172 at around 03:55 GMT.
The Australian dollar ignores poor employment stats, remains buoyed by positive trade war headlines.
The data released early today showed Australia’s Weekly Payroll Jobs and Wages were down 1.0 over a month to August 08.
Further, the employment barometer fell 4.8% compared to the mid-March period when the coronavirus (COVID-19) hit market sentiment.
The optimism over the US-China trade talks and coronavirus treatment support the higher-yielding aussie.
Price action is above daily cloud and major moving averages. Major trend in the pair is bullish.
The pair is holding support at 21-EMA at 0.7153. Break below could see some weakness. Next major support lies at 55-EMA at 0.7027.
Intraday bias is neutral. Sideways grind likely for a few more sessions before the next bullish leg.
