AUD/USD (current price: 0.7602)
The Australian Dollar had another great session backed by the rally in oil and the decline of the Yen. The Australian Nab Business Confidence Index came in at 6 compared to the previous reading of 3 helping the Aussie in early trading. The pair got close to the crucial 0.7650 that marked the top in June. Another strong resistance zone is found near 0.7850 serving as a possible target for a bullish move. Support stands at 0.7500 before today’s employment report, with the 200-day MA being just above the 0.73 level.
Our assessment: AUD/USD has been acting positively in recent weeks despite the Brexit-scare, as the long-term picture remains neutral for the pair.
