AUD/USD Consolidates Near 0.7030 Before Key US Jobs Report
The Australian dollar was pinned near 0.7030 against the greenback on Friday as markets turned cautious ahead of the US nonfarm payrolls release. Geopolitical concerns around Iran added support to the safe-haven USD, keeping AUD/USD bulls on the sidelines.
The AUD/USD pair was trading in a tight range near 0.7030–0.7025 during the Asian session on Friday, lacking clear direction as markets braced for the latest US employment report.
Escalating tensions involving Iran lent a bid to the US dollar, capping any upside attempts in the risk-sensitive Australian currency. Traders refrained from placing large directional bets before the nonfarm payrolls data, which could shape near-term Fed policy expectations.
The pair’s near-term bias remains tentative, with the US jobs print likely to determine whether AUD/USD tests support below 0.70 or stages a recovery.
Source: FXStreet Forex News