AUD/USD chart - Trading View
AUD/USD struggles to extend upside, but holds above 0.70 handle.
The pair finds stiff resistance at 100-DMA and daily cloud, break above required for further gains.
A bearish inverted hammer on previous sessions' candle could hamper gains and limit upside.
Price action on the day has been capped at 100-DMA (0.7030), pair slips from session highs at 0.7028 to trade at 0.7019 at 06:00 GMT.
Caution prevails ahead of key non-farm payrolls report. Focus will now be on the implications for the FOMC later this month.
According to analysts' forecast, the non-farm payrolls are expected to have risen by 160K in June, following a 75K rise in May.
Major trend in the pair is bearish. Rejection at 100-DMA and break below 5-DMA will see further weakness.
Support levels - 0.70 (5-DMA), 0.6982 (55-EMA), 0.6971 (21-EMA)
Resistance levels - 0.7030 (100-DMA), 0.7096 (200-DMA), 0.71
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
