Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/ USD tight ranges prevail as market waits for fresh catalyst

• AUD/USD steadied around 0.6845 on Friday as investors awaited U.S. non-farm payrolls figures  due later in the day.

• The U.S. jobs report is released comes in the backdrop of a strengthening US  economic outlook  and a more assertive tone from Fed Chair Jerome Powell.

• The Australian dollar gained 0.09% to $0.6845 in early trading; however, it is down 0.8% for the week, marking its first weekly decline in four weeks.

• Immediate resistance is located at 0.6885 (Daily high), any close above will push the pair towards 0.6918 (23.6%fib).

• Support is seen at 0.68260(38.2%fib) and break below could take the pair towards 0.6748  (50%fib).

 Recommendation: Good to sell around 0.6840, with stop loss of 0.6750 and target price of 0.6900

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.