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AUD/USD chart - Trading View
AUD/USD was trading 0.22% higher on the day at 0.6071 at around 05:00 GMT, bias neutral.
The Aussie dollar fails to benefit from above-forecast Aussie retail sales data and a rebound in the Chinese Caixin Services PMI.
As the coronavirus numbers continue to rise globally and governments scramble to contain the outbreak, volatility to rule markets.
Doji formation on Thursday's candle suggests indecision among traders. Technical indicators do not provide a clear directional bias.
Risks are skewed towards the downside. Stiff resistance is seen at 0.61 (nearly converged 5 and 20 DMAs).
Price action is currently extending sideways along 200H MA support (currently at 0.6056). Break below will drag the pair lower.
Focus now on US Non-Farm Payrolls March data for impetus. DXY is holding onto previous session's gains.
Analysts expect NFP to lose 100,000 in March, first decrease since September 2010. Unemployment (U-3) is expected to rise to rise to 3.8% from 3.5%.
Support levels - 0.6056 (200H MA), 0.6013 (Tenkan Sen)
Resistance levels - 0.61 (nearly converged 5 and 20 DMA), 0.6148 (21-EMA)
