AUD/USD Technical Analysis: Aussie making headway on Australian jobs report, but barriers remain

  • The Aussie surged on a thumping jobs report that saw Australia add over 50 thousand jobs, allowing Aussie bulls to make room for a potential move higher.
  • Higher timeframes still show the AUD/USD constrained within a rough channel on the H4 candles, and failure to break to the upside will see a move back to the bottom in the coming weeks.
  • 2018's lows still remain nearby at the 0.73 critical handle.

AUD/USD Chart, 15-Minute

Spot rate:  0.7421
Relative change:  0.33%
High:  0.7440
Low:  0.7393
   
Trend:  Bullish
   
Resistance 1:  0.7440 (current day high)
Resistance 2:  0.7493 (R3 daily pivot)
Resistance 3:  0.7500 (major technical level)
   
Support 1:  0.7393 (current day low)
Support 2:  0.7380 (61.8% Fibo retracement level)
Support 3:  0.7342 (current week low)

 

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