• AUD trades above the 0.7020-30 resistance band, but upside has stalled ahead of the weekly high at 0.7069

• The pair remains supported by the AUD/NZD bid following the NZ jobs data

• While the rebound in gold is offering a modest tailwind

• That said, with broader appetite still lacking to drive USD lower, spot is likely to stay rangebound in the near term

• Resistance is layered at 0.7080-0.7100 and should cap ahead of Friday’s payrolls

• Initial support sits at the 200-hour MA around 0.6999-0.7010, with a deeper cushion at 0.6950
AUDUSD hourly chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))