AUD/USD finds intraday support around 0.7670 ahead of US NFP

• The AUD/USD is trading in a tiny range sticking to the 0.77 handle.
• The US NFP on Friday at 12:30 GMT will provide volatility to global markets.

The AUD/USD is trading at around 0.7682 down 0.44% as the Aussie remains under pressure ahead of the widely awaited Non-Farm Payroll report on Friday scheduled at 12:30 GMT.   

Raphael W. Bostic, voting member of the Federal Open Market Committee, will be delivering a speech at 17:00 GMT, later on, in the New-York Session. 

Earlier in the day, US Initial Jobless Claims weekly report came worse-than-expected at 242K versus 225K forecast by analysts while on the other hand Continuing Jobless Claims came in better than expected at 1.808 M versus 1.8949 M consensus. The US Trade Balance came in worse-than-expected.  

AUD/USD weekly chart

The last three weeks of trading in the AUD/USD pair have been characterized by a slow sliding down to the 100-period simple moving average on the weekly time frame. The commodity-linke currency is now trading below its 50 and 200-period simple moving averages.

AUD/USD daily chart

The AUD/USD has been rejected from the 0.7720 level on Wednesday and is currently testing yesterday’s open. 

AUD/USD 4-hour chart

The market is rejecting the pair around the 50 and 100-period simple moving averages in the 4-hour time frame. Immediate support is seen at 0.7662 swing low followed by 0.7642 cyclical high. Resistances are seen at 0.7728 and 0.7787 swing highs.