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AUD/USD chart - Trading View
AUD/USD was extending sideways grind along 200H MA support as the Australian dollar unimpressed by upbeat Australian jobs data.
The major was trading 0.12% lower on the day at 0.7294 at around 05:10 GMT, after closing largely unchanged in the previous session.
The Australian seasonally adjusted estimates for October 2020 showed the Unemployment Rate increased to 7.0%, less than 7.1% expected and compared to 6.9% prior.
The participation rate increased to 65.8%, while employment increased to 12,773,900.
AUD/USD trades with a bullish technical bias. Analysis of GMMA indicator shows major and minor trend are bullish.
Despite good data, markets remained jittery amid persistent covid fears. Cloud offers strong support at 0.7209. Weakness only on break below.
Price action is consolidating above 200W MA. Resumption of upside will see test of 0.74 levels ahead of 78.6% Fib at 0.7573.
