AUD/USD stalls right above 0.6600 with US Payrolls on sight
by Guillermo Alcala · FXStreetShare:
- The Australian Dollar maintains a mild positive tone with bears capped at 0.6590 so far.
- The pair is likely to remain in range ahead of the US NFP report.
- The Michigan Consumer Sentiment Index might also have some impact on the pair.
The Aussie is trading with moderate gains on Friday, following a significant rebound on Thursday, which has left the pair consolidating above the 0.6600 level ahead of US employment data.
Data from the US showed an increase in US Jobless claims, adding to evidence that the US labor market is loosening and increasing hopes that the Fed might start cutting rates next March.
US Nonfarm Payrrolls likely to boost USD volatility
The main focus today is on November’s Nonfarm Payrolls report, which is expected to show a moderate improvement later today. After the downbeat reading of Tuesday’s JOLTs Job Openings and Wednesday’s ADP reading, a strong payrolls report would pose a headache for the Fed and might cause significant US Dollar volatility.
Somewhat later, the University of Michigan will release December’s Preliminary Consumer Sentiment Index, which might also impact the US Dollar, especially if it comes in the same line of the NFP.
From a technical perspective, the bullish engulfing candle printed on the daily chart on Thursday is giving bulls hope while the 0.6590 support remains in place.
Above here, 0.6655 and December’s peak, at 0.6590 are the next targets.
On the downside, below 0.6590 the pair might find support at 0.6525 ahead of 0.6520.
Technical levels to watch
AUD/USD
Overview | |
---|---|
Today last price | 0.6606 |
Today Daily Change | 0.0002 |
Today Daily Change % | 0.03 |
Today daily open | 0.6604 |
Trends | |
---|---|
Daily SMA20 | 0.6551 |
Daily SMA50 | 0.6443 |
Daily SMA100 | 0.6467 |
Daily SMA200 | 0.6577 |
Levels | |
---|---|
Previous Daily High | 0.662 |
Previous Daily Low | 0.6526 |
Previous Weekly High | 0.6677 |
Previous Weekly Low | 0.6567 |
Previous Monthly High | 0.6677 |
Previous Monthly Low | 0.6318 |
Daily Fibonacci 38.2% | 0.6584 |
Daily Fibonacci 61.8% | 0.6562 |
Daily Pivot Point S1 | 0.6546 |
Daily Pivot Point S2 | 0.6488 |
Daily Pivot Point S3 | 0.6451 |
Daily Pivot Point R1 | 0.6641 |
Daily Pivot Point R2 | 0.6678 |
Daily Pivot Point R3 | 0.6736 |
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