• AUD/USD steadied around 0.6685 on Monday as the dollar retraced some of its gains from Friday as investors remained uncertain about the extent of the Fed's anticipated rate cut later this month.
• Friday's U.S. jobs data left traders uncertain whether the Fed will opt for a 25 or 50 basis point rate cut at next week's meeting.
• At GMT 02:49, the pair was up at 0.27 percent at 0.6685 , having touched day low at 0.6662 earlier in the day.
• Technical highlight upside risks for AUD/ USD, with momentum studies, 5, 10 and 11 DMAs tracking north.
• Immediate resistance is located at 0.6720 (38.2%fib), any close above will push the pair towards 0.6766 (Sep 6rg high).
• Support is seen at 0.6659(50%fib) and break below could take the pair towards 0.6604 (61.8%fib).
Recommendation: Good to buy around 0.6670, with stop loss of 0.6600 and target price of 0.6740
