FxWirePro: AUD/USD erases early losses, Aussie sees fresh demand on RBA Lowe’s comments

Chart - Courtesy Trading View 

AUD/USD was trading 0.06% higher on the day at 0.6814 at around 04:00 GMT.

The pair has erased early losses and edged higher from session lows at 0.6794 after RBA Lowe's comments.

Reserve Bank of Australia (RBA) Governor Philip Lowe at a discussion at the Bank of Thailand 80th Anniversary Conference, in Bangkok said that the central bank’s decision to downshift reflects monetary policy lags.

He added that Australia's inflation expectations remain well-anchored domestic spending has been resilient to higher interest rates thus far.

The Australian Dollar is seeing some fresh demand on RBA Lowe’s comments, AUD/USD holds marginal gains as traders wait key US employment data for November.

Analysts expect that the headlines Nonfarm Payrolls (NFP) is likely to ease with a 200K print versus 261K prior while the Unemployment Rate could remain unchanged at 3.7%.

Technical bias for the pair remains bullish as price action holds above daily cloud. Bullish momentum and rising volatility to drive prices higher.

Next major bull target lies at 200-DMA at 0.6922. Bullish invalidation only below daily cloud.