The Aussie dollar dipped to session low in Asia on Friday after previous day’s upside attempts stalled under strong 0.76 zone barrier.
Renewed fears about trade war as the US imposes new tariffs on imported steel and aluminum kept Australian dollar at the back foot ahead of release of US jobs data later today, with mixed signals from daily techs, signaling unclear near-term direction.
Pivotal support lays at 0.7530 (sideways-moving 20SMA), loss of which would generate stronger bearish signal on double-top formation at 0.76 zone.
Bullish signal could be expected on close above 0.76 barrier (22 May high / falling 55SMA).
Release of US labor data is expected to generate stronger direction signal.
Res: 0.7573, 0.7593, 0.7605, 0.7616
Sup: 0.7530, 0.7498, 0.7475, 0.7447
