AUD USD Bounced back from several week lows
6/2/2017 11:29:47 AM
The AUD/USD pair performed an unsure recovery and recovered part of previous session's fall and now appears to regain the 0.7405 handle ahead of the much predicted monthly jobs report from the US (NFP).
A follow through buying interest beyond the 0.7405 handle could expand the recovery move towards 0.7427 persistence area, above which a new session of short-covering has the possible to boost the pair towards weekly high persistence near 0.7467 area.
On the other hand, 0.7373 area now becomes immediate support to protect, which if broken would speed up the slide towards 0.7337 support area before the pair finally fell to its next important support near 0.7310 area.
FOREX market analysis by FxErvin.