AUD/USD chart - Trading View
AUD/USD was trading 0.27% lower on the day at 0.7430 at around 04:55 GMT, pauses upside at 110-EMA resistance.
The pair is retreating from 2-month highs at 0.7478 hit on Friday's trade, on dollar rebound amid souring sentiment.
The aussie remains depressed on coronavirus fears and amid looming Australian-Sino tensions. Coronavirus cases spike in Australia.
On Friday, a disappointing U.S. payrolls report suggested the Fed policy is set to remain super-loose for longer. Data clouded the outlook for global growth and inflation.
Labor Department data showed on Friday U.S. nonfarm payrolls increased by 235,000 jobs last month, missing expectations of 728,000 by a wide margin.
Fed Chair Jerome Powell had said last month that reaching full employment was a pre-requisite for the central bank to start paring back its asset purchases.
Investors were still assessing the fallout from the September payrolls report. The data on Friday pushed the dollar index DXY to its lowest level since Aug. 4.
Minor rebound seen in DXY today at price holds 110-EMA support. AUD/USD shows minor weakness amid US dollar rebound.
The pair is consolidating break into the daily cloud. Technical indicators point to further upside in the pair.
110-EMA at 0.7476 is offering stiff resistance, decisive break above will fuel further gains. Next bull target lies at cloud top at 0.7542 ahead of 200-DMA at 0.7604.
