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Mar 07 - 07:55 AM

AUD/USD - Midpoint Of Recent Range Neared Ahead Of US Jobs Report

By Christopher Romano  —  Mar 07 - 07:10 AM

• AUD/USD hit 0.6337 in Asia, sellers emerged, 0.6294 traded in Europe

• NY opened just above that low hit, traded down -0.57% in early action

• AUD/JPY, Australia yield , copper drops weighed on AUD/USD

• USD/CNH bounce off its 7.2282 low also helped AUD/USD trade lower

• AUD/USD currently trades near the middle of recent 0.6409-0.6187 range

• Daily techs concern longs; RSI falling, pair below cloud top & 21-DMA

• Rising monthly RSI, hold above 55-DMA, daily cloud base gives long comfort

• US Feb. jobs data due; NFP estimate 160k, unemployment estimate 4.0%

• Fed's Williams to speak in NY's morning and may impact risk sentiment
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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