The Aud eventually made it up to 0.7466 after yesterday’s good jobs data but then headed steadily lower through the session, closing towards the lows of 0.7407.
Technically, the 1 and 4 hour charts look slightly negative on Friday, while the dailies still look mildly constructive and in the absence of any data it looks like being a choppy session near current levels.
If we do head higher we could see another test of minor resistance at 0.7440, beyond which could head on to 0.7465/70 where the minor descending trend resistance lies. Beyond there would open the way to the Fibo level at close to 0.7500 although probably not today.
On the downside, minor support is seen at 0.7395/0.7400 and at the recent lows at 0.7384/88. Below this would open the way to the 12 May low of 0.7366 and 0.7350 (minor), ahead of the stronger 0.7330 level. Back below the 9 May low of 0.7328 would find little to hold the Aud up until 0.7300 and the rising trend support, at 0.7285, although this seems unlikely to be seen for a while.
All content on this website, www.fxcharts.com.au (FX Charts PL) is a personal view only and offers absolutely no guarantee as to the correctness or otherwise of that opinion. The content here is of a “general nature” only and does not constitute personal or investment advice. The FX Charts website is not an inducement to trade Foreign Exchange (FX). No liability whatsoever is accepted for any loss or damage that may result, directly or indirectly, from any , comment, opinion, information or omission, whether negligent or otherwise, within the FX Charts Website. The information and any opinion or outlook expressed in this commentary may be based on assumptions or market conditions and may be liable change at any time, without notice.