A$ extended the losses on the second week slips below all the daily moving averages but remains in the support base finds between 0.7440 and 0.7400 levels.
What’s on today?
Employment change forecast 20.3k vs -9.8k
Unemployment rate forecast 5.6% vs 5.6%
The A$ crushed since the U.S election day beaten down to a month low. The price hammered below 200dsma on Wednesday’s session for the first time after June.
The channel support finds between 0.7440 and 0.7390 levels. The weekly earlier swing finds at 0.7385 last hope to bulls. Slips below can attract to 0.72 and 0.7150 levels.
On the weekly chart, the price slips below the 11 month ascending trend line.
Ahead of the Aussie jobs data, the cross likely to hold the support zone. In case of negative data 0.74/0.7390 possible. Further downward acceleration possible only if slips below 0.7380.
Alternatively, resistance seems between 0.7530, 0.7580 and 0.7630.
The dollar index approaching to the 18-month raising trendline