FxWirePro: AUD/USD edges lower as risk sentiment deteriorates

• AUD/USD edged lower on Thursday  as renewed jitters in global bond markets weighed on investor sentiment and reduced demand for risk-sensitive currencies such as the Australian dollar.

• The RBA's September meeting minutes, due on Tuesday, will be closely scrutinized for clues about the central bank's future policy path.

• Traders will focus on policymakers’ assessment of inflation, labour-market conditions and the risks posed by higher energy prices, particularly following the RBA’s recent tightening cycle.

• Investors will focus on September employment data next week for further guidance on the outlook, following an unexpected rise in the unemployment rate to a five-year high of 4.6% in August.
 

• Immediate resistance is located at 0.6965(SAM 20), any close above will push the pair towards 0.6995(Higher BB).

• Support is seen at 0.6937(Lower BB) and break below could take the pair towards 0.6907(23.6%fib ).

 Recommendation: Good to sell around 0.6960, with stop loss of 0.7000 and target price of 0.6900