Topside remains limited by near-term resistance around 0.7130
The aussie is the best performing major currency on the day so far but that doesn't tell the whole story. AUD/USD trades in just a 21 pips range as currencies are basically in a lull awaiting the US NFP release later today.
The high for AUD/USD touched 0.7129 earlier and that once again fails to break above resistance around 0.7129-32 set out earlier in the week. Meanwhile, option-related bids (A$1.7 billion of expiries) are expected to keep the pair afloat above the 0.7100 handle until we get the results of the US jobs report.
For any upside surprises (poor US data) for AUD/USD from the release later, be wary of the 100-day MA at 0.7145 and the 200-day MA at 0.7200. Those will be key levels to watch out for in terms of any further extension higher in the pair.
