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AUD/USD pares losses, poor price action for bears

  • AUD/USD plunged lower earlier on double-shot of bear events (China trade, RBA SMP) spike 

  • Later pared all losses to trade flat, price action a concern for bears

  • Pair buiyed by EUR/AUD drop, elevated commodity prices & wider spreads 

  • Soft US jobs would put bears in trouble, pair likely spikes higher

  • Could clear 0.7935, 0.8005/35 resistance in play then, >0.7840/50 eyes 0.7765/85 

  • Market Data
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