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.

Joshua Gibson FXStreet

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)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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