The AUD/USD inched higher on Friday in choppy trading after data showed that U.S. employment growth unexpectedly slowed in September but was stronger than initially reported in August. However, after finding resistance a…
The AUD/USD inched higher on Friday in choppy trading after data showed that U.S. employment growth unexpectedly slowed in September but was stronger than initially reported in August.
However, after finding resistance at 0.7624, the pair retreated towards 0.7580 levels in the mid -morning US session.
As long the pair trades below strong resistance located at 0.7632 levels, the ongoing bearish trend for the pair is set to continue, therefore it’s good to sell this pair on rallies.
Immediate support can be seen at 0.7561, a break below this level will expose the pair towards next support level located at 0.7529.
Immediate resistance can be seen at 0.7592, a break above this level will open the gates towards 0.7632 levels.
