AUD/USD set to challenge support at 0.7220/30 – OCBC

The AUD underperformed after a poor set of employment data, losing the 0.7300 support. With the AUD/USD pair closing below 0.7300, the next downside target shall be 0.7220/30, economists at OCBC Bank report.

Negative on the aussie

“A set of soft employment numbers on Thursday piled domestic negatives on the AUD/USD.”

“Having lost the 0.7300 support, the pair’s downside momentum may be reinforced, with 0.7220/30 eyed at this juncture.”