FxWirePro: AUD/USD extends pullback from weekly high, focus on U.S. jobless claims and GDP data

AUD/USD chart - Trading View 

AUD/USD was trading 0.83% lower on the day at 0.5908 at around 03:35 GMT.

Risk-aversion amid rising coronavirus cases across the globe and weaker commodities’ prices weigh on the Aussie.

On Wednesday, the RBA extended QE into the semi-government sector and is considering buying A$3bn (US$1.8bn) government bonds on Thursday.

This will be the central bank's fourth round of ACGB (Australia Commonwealth Government Bond) purchases.

The major pulled back from the weekly top (0.6073) on Wednesday's trade with a 'Gravestone Doji' formation at highs.

Major trend is bearish. Price action has slipped below 200H MA. Close below 5-DMA will dent upside.

Markets will now look forward to U.S. jobless claims and GDP data due later today for fresh impulse.

Support levels - 0.5892 (5-DMA), 0.5768 (2H cloud)

Resistance levels - 0.60 (4H 55 EMA), 0.6170 (21-EMA)