FxWirePro: AUD/USD steadies around 7080,retains bid tone

• AUD/USD  steadied  on Friday    as surging oil prices amid the expanding Middle East war fueled inflation concerns and raised the risk of further RBA tightening.

• Hawkish signals from central banks boosted bets on further rate hikes in Australia and a quicker return to tightening in New Zealand.

• The RBA has raised rates to 4.10%, with markets pricing a 56% chance of a hike to 4.35% in May and a potential peak near 4.85%.

•  On the data front, Figures from the Australian ​Bureau of Statistics on Thursday showed net employment rose 48,900 in February from January, ​when it rose a revised 26,000. That was well above market forecasts of ⁠a 20,000 gain.

•The ​jobless rate rose to 4.3%, after holding at 4.1% for two months, as the participation rate climbed to 66.9%. 

•  Immediate resistance is located at 0.7091(38.2%fib), any close above will push the pair towards 0.7176 (Higher BB).

•  Support is seen at 0.7004 (50%fib) and break below could take the pair towards 0.6971(Lower BB)

Recommendation: Good to buy around 0.7070 with stop loss of 0.7000, and target price of 0.7120