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FxWirePro: AUD/USD intraday upside momentum strong after upbeat domestic jobs data

  • The AUD/USD pair surged higher on Thursday, after domestic data showed an encouraging jump in full-time jobs and rally in commodities prices.
     
  • The Aussie performed strongly during the Asian and European sessions, but slightly retreated in the US session.
     
  • Currently, the currency pair is trading around 0.7641 levels, it is set to advance further towards 0.7700 later towards 0.7750 levels in the short term.
     
  • Short pullback around 0.7570 should be viewed as buying opportunities, as Australian dollar is stronger against the US dollar in the short term.
     
  • To the upside, the strong resistance can be seen at 0.7700, a break above this level would take the pair towards next resistance level at 0.7734.
     
  • To the downside immediate support can be seen at 0.7620, a break below this level will open the door towards next level at 0.7572.

    Resistance Levels

    R1: 0.7673 (38.2% Retracement level)  

    R2: 0.7700 (Psychological levels)

    R3: 0.7734 (23.6% Retracement level)

    Support Levels

    S1: 0.7620 (50% Retracement level)

    S2: 0.7572 (61.8% Retracement level)

    S3: 0.7520 (July 11th lows)
  • Market Data
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