• AUD/USD eased slightly on Friday as investors adopted a cautious stance ahead of the highly anticipated U.S. nonfarm payrolls report.
•Traders are holding back from making big moves until the report is released, as a strong or weak reading could significantly impact the U.S. dollar and overall market sentiment.
• Markets expect nonfarm payrolls to have risen by 130,000 in the latest report, with the unemployment rate likely holding at 4.2%, though there's a growing risk it could edge up to 4.3%.
• A string of weak economic data this week has raised concerns of a downside surprise in payrolls, which could prompt the Fed to cut rates sooner.
• At GMT 04:55, The Australian dollar was last trading down 0.02% to $0.6504.
• Immediate resistance is located at 0.6537(38.2%fib), any close above will push the pair towards 0.65548(23.6%fib).
• Support is seen at 0.6449 (50%fib) and break below could take the pair towards 0.6375(Lower BB).
Recommendation: Good to buy around 0.6480 with stop loss of 0.6360 and target price of 0.6580
