The post-RBA drop yesterday saw AUD/USD took out its 200-day moving average (blue line) and that is the key technical point of contention today, with the pair up 0.5% to 0.6580 currently:
The key level is sitting at 0.6577 and if buyers can push back above that, it will be a good platform to build back the upside momentum from November. But keep below, and sellers will stay reinvigorated in search of a further retracement after the drop from earlier this week.
The notable headline for the aussie today was the softer-than-expected Australian GDP data here. However, that has not really dented the enthusiasm for the currency on the day. Instead, it seems like a better risk mood and the potentially lower setup to the US jobs report on Friday are factors that could be well in consideration.
On the latter, the JOLTS data yesterday here is one that is hinting at further softness in the jobs market towards year-end.
