AUD/USD Bearish Bias Persists Below 0.7000 After Weak US NFP
The Australian Dollar edged higher on Thursday as a softer-than-expected US Nonfarm Payrolls report reduced the odds of an imminent Federal Reserve rate hike, but the pair remains under pressure below the 0.7000 level.
The AUD/USD pair traded modestly higher on Thursday following the release of weaker-than-expected US Nonfarm Payrolls data. The NFP miss pushed back expectations for an immediate interest rate increase by the Federal Reserve, temporarily supporting risk-sensitive currencies like the Australian dollar.
Despite the short-term bounce, the technical outlook remains bearish as long as the pair stays below the key 0.7000 resistance level. Sellers continue to defend the psychological barrier, and any upside may be limited without a sustained break above that mark.
Source: FXStreet Forex News