AUD/USD is harmonizing again with realistic fundamentals in the global growth and picture in the commodities sector; after a valiant attempt at the 0l76 handle, the bears are taking back control and pressuring the price below the 200 sma on the hourly sticks. All quiet on the Aussie front, for now anyway... AUD/USD was sold off this week and has started to consolidate into what appears to be a potentially quiet Asia shift ahead of a very big day in the FX space with the FOMC along with a number of other releases in European and US trade. FOMC coverage by FXStreet However, specifically for the Aussie, we have the jobs report and it should take even more attention than usual given the recent commentary from the RBA who are more cautionary on the global outlook and potential impact domestically, while the jobs data has historically been a big factor that the RBA has been able to rely upon until very recently, given the sharp downturn in the lats report. AUD/USD levels Valeria Bednarik, chief analyst at FXStreet has sighted that the recent correction may only be just that. " In the longer term outlook, the movement seems barely corrective, as the pair retraced some 150 pips following an 800 pips rally." Valeria added, "In the short term however, the risk has turned towards the downside, with the 1 hour chart showing that the price develops below a sharply bearish 20 SMA and that the technical indicators maintain bearish slopes within bearish territory. In the 4 hours chart, the technical indicators present a strong downward momentum and approach oversold territory, whilst the price remains near its daily low and well below a horizontal 20 SMA, in line with the shorter term outlook." For more information, read our latest forex news.