• AUD/USD edged lower on Friday as US dollar gained some traction ahead of key U.S. payrolls data
• Nonfarm payrolls likely increased by 170,000 jobs last month after surging 256,000 in December, a poll of economists showed.
• Futures indicate a 95% probability of a cut to 4.10%, with expectations for rates to reach around 3.50% by year-end.
• At GMT 06:21, the pair was trading down 0.06% at 0.6254
• Immediate resistance is located at 0.6297 (61.8%fib), any close above will push the pair towards 0.6326(Higher BB).
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• Support is seen at 0.6237(50%fib) and break below could take the pair towards 0.6174(38.2%fib).
Recommendation: Good to sell around 0.6290 with stop loss of 0.6340 and target price of 0.6220
