AUD/USD: Upside remains capped at 0.7485 post-Aus jobs

The AUD/USD pair continues to trade in a tight range near the upper bound of 0.74 handle, struggling hard to extend the recovery from daily lows reached after the Australian jobs report release.

AUD/USD strives for 0.75 handle

Currently, the AUD/USD pair trades almost unchanged at 0.7479, recovering from session lows struck at 0.7468.  The Aussie erases losses and now looks to regain bids, but in vain, as downbeat Australian jobs data continue to dampen investors’ sentiment.

Moreover, negative copper and oil prices also act as a drag on the resource-dependent AUD, limiting any recovery attempts in the major.

Next in focus for the major remains the US CPI and housing data ahead of Fed Yellen’s testimony lined up for release later in the NA session.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7500 (round figure) above which gains could be extended to the next hurdle located 0.7524 (5-DMA) and 0.7591 (10-DMA). On the flip side, the immediate support located 0.7456 (2-month low). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7433 (daily S1) and below that at 0.7400 (zero figure).

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