AUD/USD chart - Trading View
AUD/USD was trading 0.23% higher on the day at 0.7394 at around 05:30 GMT, bias remains neutral.
The pair is extending sideways grind below 21-EMA resistance, decisive break above required for upside continuation.
Price action has halted a 5-week bearish streak and was holding 0.70% gains for the week till date.
Bounce in the pair remains lackluster. Covid concerns and falling iron-ore prices keep downside pressure.
Iron ore futures fall below a key 1,000 yuan mark on Thursday as Chinese domestic consumption remains sluggish on steel production controls.
On the data front, Australia Trade Balance for June printed at 10496M versus 10450M expected and 9681M previous.
However, softer-than-prior Exports and Imports, respectively near 4.0% and 1.0% versus 6.0% and 3.0% in that order, challenge the bulls.
In addition, firmer U.S. dollar after hawkish Fed comments on Wednesday, add to the downside pressure.
Cautious sentiment ahead of the key US Nonfarm Payrolls (due Friday) also restricts the market moves.
Major trend is the pair is bearish. Death Cross on the daily charts limits any upside in the pair. 21-EMA is immediate resistance at 0.7406, decisive break above will change near-term dynamics.


FxWirePro: EUR/ NZD stuck in range but outlook is bearish
FxWirePro: USD/ZAR shows upside momentum, but bearish outlook remains
FxWirePro: GBP/NZD edges higher but outlook is bearish
FxWirePro- Major Pair levels and bias summary
FxWirePro: NZD/USD hovers near one-week low, outlook bearish
FxWirePro: GBP/USD falls to two-day low, scope for further downside
FxWirePro: GBP/AUD regains upwards momentum but unable to hold above 38.2% fib
AUDJPY Extends Five-Day Rampage to Near 115 as Yen Crumbles; Bulls Target 116–117
Euro-Yen Retreats From 186.20 Peak, but Bulls Reload for a Run at 188
FxWirePro: GBP/NZD gains some ground but outlook is bearish
NZDJPY Catches Its Breath: Bulls Defend 94 Floor With Sights Set on 96–97
FxWirePro- Major Crypto levels and bias summary
FxWirePro: NZD/USD dips as Middle East tensions weigh on sentiment
FxWirePro- Major Pair levels and bias summary
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/JPY nears 160 as intervention risk intensifies 



