The AUD/USD pair moved higher during Asian session and marked daily high at 0.7372
after the upbeat
Australian retail sales data. But during
the pat hour lost upward traction and retreat to currently trade around 0.7363.
Technically speaking the short-term outlook remains neutral to bearish. On the four hour time frame the price is developing its bearish 20-day SMA and flat 50-day and 100-day SMAs. RSI lacks direction around 40 level while stochastic has turned north although remains well below its mid-line.
The selling pressure has diminished for now as market participants became cautious ahead of today's key event risk – the US monthly jobs report release. So until then no significant moves are expected and it’ll become more interesting later on, especially in case with strong US jobs numbers which will further boost the bears. The short-term perspective turns towards key supports at 0.7340, 0.7320 and 0.7310.
Technically speaking the short-term outlook remains neutral to bearish. On the four hour time frame the price is developing its bearish 20-day SMA and flat 50-day and 100-day SMAs. RSI lacks direction around 40 level while stochastic has turned north although remains well below its mid-line.
The selling pressure has diminished for now as market participants became cautious ahead of today's key event risk – the US monthly jobs report release. So until then no significant moves are expected and it’ll become more interesting later on, especially in case with strong US jobs numbers which will further boost the bears. The short-term perspective turns towards key supports at 0.7340, 0.7320 and 0.7310.
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