AUDUSD Testing Support: Resistance at 0.6750
Updated
AUDUSD is testing the support level around 0.6680, an important level previously validated.
If the price holds above this support, it may rise towards the 0.6750 resistance, though the EMA 34 and EMA 89 could limit the upward move.
If the price holds above 0.6680 and rebounds, traders may consider opening buy positions with a target of 0.67097.
Regarding news: PMI reports, unemployment data, or interest rate decisions from the RBA and FED could impact AUDUSD. If the U.S. economy shows positive signs, the USD could strengthen, putting pressure on the AUD.
If the price holds above this support, it may rise towards the 0.6750 resistance, though the EMA 34 and EMA 89 could limit the upward move.
If the price holds above 0.6680 and rebounds, traders may consider opening buy positions with a target of 0.67097.
Regarding news: PMI reports, unemployment data, or interest rate decisions from the RBA and FED could impact AUDUSD. If the U.S. economy shows positive signs, the USD could strengthen, putting pressure on the AUD.
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Today, September 5th, AUD/USD is influenced by Australia's services PMI rising to 52.2 and Q2 GDP expected to grow by 0.3%, raising expectations for an RBA rate hike. US labor market data could determine the pair's next move, with a weaker labor market potentially pushing AUD/USD to 0.68, while a stronger USD may cause a decline.
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