AUD/USD: back to square one post NFP - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair closed the week pretty much flat a handful of pips below the 0.7600 figure, having however, recovered from a 4-week low of 0.7490. 

Key Quotes:

"A dismal US employment report alongside with a nice comeback in stocks helped the pair to advance up to 0.7615 last Friday, albeit the price retreated before the weekly close. 

The Aussie has been quite weak during the last few days, weighed by the poor performance of commodities and equities, but misses in US PMIs on Thursday, and employment on Friday limited the decline in the pair. 

Still, the pair has little room for advances, as the daily chart shows that the price retreated sharply after testing a bearish 20 SMA, while ending below a daily ascendant trend line broken at the beginning of the week. In the same chart, technical indicators have recovered modestly within negative territory, but remain below their mid-lines."