• AUD/USD pierced the 10,DMA, hit 0.6255 then bounced & turned positive

• Dip buyers still hold the cards as key US January payroll report in focus

• AUD/USD longs hoping jobs data leads to US yield, US$ weakness

• Techs leading into the report highlight upside risks

• Daily long legged doji formed after the rally ensued after the 10-DMA test

• Monthly RSI is rising & is diverging on the 68-month low set on Feb. 3

• Monthly bull hammer formed after 76.4% Fib of 0.5510-0.8007 briefly pierced

• 0.6330/50 is immediate resistance, if breaks short squeeze may be in order

• AUD/USD longs may target 0.6525/40 zone followed by the 200-DMA
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)