FXStreet (Guatemala) – AUD/USD is currently trading at 0.7627 with a high of 0.7659 and a low of 0.7588.
AUD/USD has been keeping a low profile to some extent in the drama’s around Greece but is less favourable in times of uncertainty and has been better offered trading with a bearish bias at the start of this month.
AUD/USD price action
AUD/USD opened Europe on the downside 0.7614 down to 0.7590 until London’s high of 0.7641 and lows of 0.7588 while we are trading in the US handover at current aforementioned level at time of writing.
AUD/USD fundamentally: recovering post Nonfarm Payrolls
AUD/USD support was solidified on demand post the miss in expectations over the Nonfarm Payrolls results. The Aussie may well be sidelined however ahead of the long weekend in the US and the Greek referendum that has been scheduled to take place this Sunday. As for Australia, analysts at Westpac Global Strategy Group explained the possibility of mixed commentary from the RBA on the economy and Aussie dollar.
AUD/USD technically bearish
AUD/USD has traded just shy of the daily lows of 0.7586 today and pressures remain to the downside. AUD/USD has tested and has faltered at its near term resistance line at 0.7725, which ideally will continue to cap, as explained by Karen Jones, chief analyst at Commerzbank who remains bearish on AUD/USD below the June high at 0.7848 and said only above here would cause us to re-evaluate their bearish view.
(Market News Provided by FXstreet)