AUD/USD continues Australia employment report-backed upside momentum whilst taking the bids close to 0.7772, up 0.31% intraday, at some point of early Thursday. In doing so, the quote refreshes the weekly top.
Considering the bullish MACD and sustained buying and selling above 0.7640/45 guide confluence, comprising December 27 top, January four low and 200-bar SMA, choose AUD/USD buyers. Also favoring the upside momentum should be the Aussie jobs file and Joe Biden’s arrival in the White House as the forty sixth US President.
Read: AUD/USD: Muted response to bigger-than-expected drop in Aussie Unemployment Rate
As a result, the modern-day upside momentum eyes a downward sloping vogue line from January 06, at 0.7800 now, beforehand of probing the month-to-month pinnacle close to 0.7820.
During the quote’s similarly upward jostle past-0.7820, March 2018 height surrounding 0.7920 will be the key.
Alternatively, a weekly help line close to 0.7710 can probe the counter-trend merchants beforehand of highlighting 0.7645/40 guide area.
However, a day by day closing beneath 0.7640 will be ample to recall the late-December lows close to 0.7460.