AUD/USD pauses to consolidate gains around 0.7300

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The Aussie paused to consolidate the advance against the US dollar after rallying more than 100 pips on the back of better-than-expected Australian jobs data.

    AUD/USD extended its recovery to above 0.7300 during the Asian session as the Australian economy added 71.4K jobs in November against a 10.0K fall expected. However, after peaking at 0.7334, the pair lost momentum and entered a consolidation phase around the 0.73 mark.

    At time of writing, AUD/USD is trading at 0.7295, up 0.93% on the day, as investors attention turns to the next string of US data that includes import and export price indexes, and weekly jobless claims report.

    AUD/USD levels to watch

    In terms of technical levels, immediate resistances could be faced at 0.7334/40 (Dec 10 & 7 highs), 0.7385 (Dec 4 high) and then 0.7400 (psychological level). On the flip side, supports are seen at 0.7190 (100-day SMA), 0.7170 (Nov 30, Dec 8 lows) and 0.7158 (Nov 23 low).

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