AUD/USD Analysis

A busy session for the AUD/USD after it started in Asia at $0.7596 this morning. It inched up through $0.7600 and to an early high of $0.7611 mainly driven by aussie-kiwi gains after the RBNZ decision earlier. It eased few notches to $0.7599 a few minutes after the release of the MI inflation view and the focus then shifted to the Feb jobs data. The aussie jumped to a $0.7637 high after the Australian jobs data show the unemployment rate slipping to 6.3% (vs 6.4% expected), with some mention of Japanese accounts on the bid. The gains fizzled out soon after and the aussie then turned back lower toward $0.7604. With euro-dollar falling to 12-year-plus lows, aussie-follar was also under pressure in the afternoon, dropping to a fresh low for the session at $0.7574. A mild recovery was then seen as euro-aussie demand interest propped the aussie up marginally, with aussie-dollar last traded at $0.7603. Initial¬†support for the pair has been cited at yesterday’s $0.7560 session low, with a barrier then seen at $0.7550, with further barrier-linked demand then seen toward $0.7500. Up top, resistance is noted at $0.7626, and then $0.7651, which is the 50% mark of $0.7740 to $0.7561.