FxWirePro: AUD/USD key support at 0.7532, upside prevails in the short term
AUD/USD pair eased in US session as the Australian dollar lost bullish momentum after oil prices slipped further and slightly positive US economic data boosted greenback. US Nonfarm payrolls increased by 161,000 jobs las…
AUD/USD pair eased in US session as the Australian dollar lost bullish momentum after oil prices slipped further and slightly positive US economic data boosted greenback.
US Nonfarm payrolls increased by 161,000 jobs last month amid gains in construction, healthcare and professional and business services, the Labor Department said on Friday.
The unemployment rate fell one-tenth of a percentage point to 4.9 percent, in part as people dropped out of the labor force.
The support level at 0.7532 is set to act as strong barrier to bears and initiate further bullish momentum towards 0.7700 and later towards 0.7750 levels. Therefore, it’s good to buy this pair on dips.
To the upside, the strong resistance can be seen at 0.7756, a break above this level would take the pair towards next resistance level at 0.7800.
To the downside immediate support can be seen at 0.7612, a break below this level will open the gates towards next level at 0.7532.
