FX.co ★ Technical review for AUD/USD: the pair is awaiting the release of the latest employment report from the US

AUD/USD is trading above 0.7245 ahead of the release of the latest employment report in the US. The market's reaction may be mixed, but the preservation of yesterday's positive sentiment will lead to a further price increase, while a change will lead to a decline.

technical picture:

The quote is above the middle line of the Bollinger indicator, below SMA 5, but above SMA 14. The relative strength index (RSI) is below the overbought zone and is moving horizontally, while the stochastic indicator is leaving the overbought zone .

Possible dynamics:

The pair is likely to be under pressure today. In that case, dropping below 0.7245 will trigger a further fall to 0.7155.