USDJPY
EURUSD
AUD/USD
AUD/USD remains depressed below mid-0.6600s; downside seems limited ahead of US NFP report
Key Takeaways (30s Read)
AUD/USD is trading around 0.6630, under pressure, but downside risks seem limited ahead of the NFP report.
The AUD/USD pair continues to trade under pressure around 0.6630, marking four consecutive days of selling activity. However, the downside risks appear limited as investors await the upcoming US Non-Farm Payroll (NFP) report. There is a consensus in the market that the NFP results could significantly impact currency values, especially if strong employment figures are reported, potentially leading to further USD strength. Despite this, the AUD/USD pair has failed to break above the current resistance levels, with attention on the psychological support at 0.6600. If this level holds, there may be a chance for recovery, but a break below could trigger additional selling pressure.
AI Analyst
AI Opinion
"The market stands in a psychologically unstable position as it approaches the US Non-Farm Payroll release. The AUD/USD pair has been under selling pressure, yet the critical support level at 0.6600 is being watched closely, suggesting limited downside risks as long as this level holds. However, should the NFP results exceed expectations with strong numbers, a rebound in the USD seems inevitable, thereby subjecting the AUD/USD to added selling pressures. Investors are expected to adopt a cautious approach, particularly until this key indicator is released."
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