6 Dec 2013
AUD/USD treads water ahead of NFP
FXstreet.com (Córdoba) - The AUD/USD managed to recover ground and erased intraday losses in quiet trade ahead of the US NFP report.
The AUD/USD bounced from daily lows and advanced toward the 0.9065 area during the European session although momentum was lacking as investors refrain from taking bug positions ahead of the US Government employment report. Expectations point for a 180K jobs gain in November following the 204K printed in October.
The AUD/USD is staging a mild recovery from a 3-month low of 0.8997 scored Wednesday but it remains vulnerable as the RBA has expressed its discomfort with a strong currency.
AUD/USD technical levels
At time of writing, the AUD/USD is trading at the 0.9060 area, virtually unchanged since opening. As for technical levels, the AUD/USD could find immediate resistances at 0.9076 (Dec 5 high) and 0.9092 (200-hour SMA). On the other hand, supports are seen at 0.9035 (daily low) and the 0.9000/0.8997 area (psychological level/Dec 4 low).
The AUD/USD bounced from daily lows and advanced toward the 0.9065 area during the European session although momentum was lacking as investors refrain from taking bug positions ahead of the US Government employment report. Expectations point for a 180K jobs gain in November following the 204K printed in October.
The AUD/USD is staging a mild recovery from a 3-month low of 0.8997 scored Wednesday but it remains vulnerable as the RBA has expressed its discomfort with a strong currency.
AUD/USD technical levels
At time of writing, the AUD/USD is trading at the 0.9060 area, virtually unchanged since opening. As for technical levels, the AUD/USD could find immediate resistances at 0.9076 (Dec 5 high) and 0.9092 (200-hour SMA). On the other hand, supports are seen at 0.9035 (daily low) and the 0.9000/0.8997 area (psychological level/Dec 4 low).