AUD/USD: down in the 'Trumps'

Currently, AUD/USD is trading at 0.7590, down -0.92% on the day, having posted a daily high at 0.7744 and low at 0.7568.

AUD/USD has been sold off and moved down to test the ascending support line from middle of September business. The dollar is stronger across the board and challenges the 99.00 handle. 

"So long as the wages & jobs data doesn’t stir RBA rate cut talk, the commodity rally should help AUD/USD find buyers near the 100dma at 0.7590, while being capped in the 0.7750/75 region given the doubts over Trump’s plans for Asia," explained analysts at Westpac.

Gold sinks to lows around $1,260

AUD/USD levels

With spot trading at 0.7591, we can see next resistance ahead at 0.7606 (Weekly Classic S1), 0.7652 (Weekly Classic PP), 0.7655 (Daily 20 SMA), 0.7656 (Hourly 20 EMA) and 0.7661 (Daily Open). Support below can be found at 0.7590 (Daily 100 SMA), 0.7580 (Yesterday's Low), 0.7568 (Daily Low), 0.7567 (Daily Classic S1) and 0.7539 (Monthly Low).