Aussie loses its directional bias ahead of Friday’s NFP.
Market sentiment will be in the driver’s seat for today.
The AUD/USD wound up moving largely flat through Thursday, and the pair is trading quietly near 0.7570 heading through the overnight session rounding the corner into NFP Friday.
Thursday data for the Aussie failed to produce much action, and most of the data came in at expectations.
Friday brings US Non-Farm Payrolls, and markets are likely coiling ahead of the major event. little else is on the docket for the Aussie this week, though Chinese Manufacturing PMIS at 01:45 GMT could produce some knock-on volatility.
AUD/USD levels to watch
As noted by FXStreet’s own Valeria Bednarik, “the pair is losing its positive stance in the short-term, as its now piercing a bearish 200 SMA, although still above the 20 and 100 SMA, these last converging in a 10 pip’s range in the 0.7530 price zone. The Momentum indicator in the mentioned chart lacks directional strength within positive levels, while the RSI indicator turned lower, but holds around 53.”
Support levels: 0.7535 0.7505 0.7470
Resistance levels: 0.7590 0.7620 0.7660