FxWirePro: AUD/USD struggles at 200-DMA, markets cautious ahead of US NFP data
AUD/USD continues to struggle below 200-DMA as markets remain cautious ahead of crucial US non-farm payrolls data. Concerns over Chinese economic slowdown continues to weigh on the Aussie. Data released earlier today sho…
AUD/USD continues to struggle below 200-DMA as markets remain cautious ahead of crucial US non-farm payrolls data.
Concerns over Chinese economic slowdown continues to weigh on the Aussie.
Data released earlier today showed Caixin China Services PMI for May, fell short of expectations and came in at 51.2 as compared to 52.0 expected and April's 51.8.
US monthly jobs number would now be the key determinant of the pair's near-term direction.
200-DMA at 0.7253 is immediate resistance, beyond which the pair is likely to rally to 0.73 and then 0.7330 (May 18th highs).
On the downside, 0.7200 handle remains immediate support to watch for. Break below is likely to drag the pair towards nearly 3-month lows support near 0.7150-45 zone.
