FxWirePro: AUD/USD struggles to hold gains ahead of US jobs data

• AUD/USD struggled to sustain gains above the 0.6900 level on Thursday as investors were cautious  ahead of key U.S. labor market data.

• Markets largely took comments from Federal Reserve Chair Kevin Warsh in stride after he said inflation risks have eased but reaffirmed the Fed's commitment to achieving its inflation target..

•Investor attention has now turned to Thursday's U.S. nonfarm payrolls report, which could provide fresh direction for the U.S. dollar and broader financial markets.

•On the data front,  Australia's balance on goods trade in May ​unexpectedly swung to the ‌largest deficit in over a decade, data showed on Thursday, ​as exports of ​gold and iron ore fell ⁠sharply.

• The Australian Bureau of ​Statistics reported the balance on ​goods recorded a deficit of A$3.0 billion ($2.07 billion) in May, compared ​to a surplus of ​A$1.4 billion in April..

• Meanwhile, market expectations for further interest rate hikes have eased considerably, with traders now pricing in only a 15% chance that the Reserve Bank will raise interest rates at its August meeting..

•  Immediate resistance is located at 0.6928(July 1st high), any close above will push the pair towards 0.6984(SMA 20).

•  Support is seen at 0.6878(38.2%fib) and break below could take the pair towards 0.6845(Lower BB).

 Recommendation: Good to sell  around 0.6940 with stop loss of 0.7000  and target price of 0.6900