Rebound from AUSD lows Non-farm payrolls will bring market Fluctuation

Sina Financial News The Australian dollar continued its upward momentum on Friday, rebounding from a three-month low of 0.6508 hit on Thursday. U.S. economic data was mixed, and the U.S. dollar came under downward pressure. In addition, the AUD was supported by improved producer price index data. As a result, these factors together provide upside support for the AUSD pair. In addition, the strengthening of the Australian currency market also supported the strengthening of the Australian dollar. In a Reuters poll, analysts unanimously expect the RBA to keep Intrerest Rate steady at 4.35% at its February policy meeting. AUD/USD traded near 0.6580 on Friday, below the immediate resistance zone near the 23.6% Fibonacci retracement level of 0.6594. A successful break above the resistance area could see AUD/USD test the 21-day exponential moving average at 0.6614 and then the key resistance at 0.6650.

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