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While markets leave behind last Friday’s Payrolls numbers, spot managed to gather pace and recover the bid tone following better prints from the Performance of Construction index and ANZ’s Job Advertisements. Next of note in Oz will be June’s Business Confidence gauged by NAB, due tomorrow. In the opinion of Greg Gibbs, FX Trading Strategist at RBS, “the AUD might continue to press towards uncomfortable levels for the RBA near .95. Perhaps the best hope that it is capped at this level and falls later in the year is that the USD strengthens more broadly as US interest rate hikes draw closer”.
AUD/USD levels to consider
At the moment the pair is losing just 0.02% at 0.9362 with the next support at 0.9344 (low Jul.4) followed by 0.9341 (50-d MA) and then 0.9327 (low Jul.3). On the upside, a break above 0.9443 (high Jul.3) would expose 0.9499 (high Jul.2) and finally 0.9505 (high Jul.1).
AUD/USD levels to consider
At the moment the pair is losing just 0.02% at 0.9362 with the next support at 0.9344 (low Jul.4) followed by 0.9341 (50-d MA) and then 0.9327 (low Jul.3). On the upside, a break above 0.9443 (high Jul.3) would expose 0.9499 (high Jul.2) and finally 0.9505 (high Jul.1).
