AUD/USD is a little higher after the retail sales beat earlier, but technically price action is still siding with sellers
The downside momentum in the pair continues to stay limited around support @ 0.6850 but over the past few sessions, buyers are also finding it tough to build enough momentum to go chasing a move back to the upside.
Notably, price still sits under the 200-day MA (blue line) @ 0.6893 and is also keeping below both key hourly moving averages. The 100-hour moving average rests @ 0.6885 and will be a key level to watch out for ahead of the US non-farm payrolls data later.
As mentioned here, the risks for the dollar going into the data release are asymmetric. As such, aussie buyers are certainly hoping for a hiccup or two in the report to try and break the key technical levels above and try and establish some upside momentum.
That said, a more steady US jobs report may leave traders with much to be desired still as the tug of war may yet continue between support around 0.6850 and the resistance region around 0.6885-93 to end the trading week.
