AUD/USD attempts a bounce from 2-week lows at 0.7115

• Aussie tracks the rally in the Kiwi post-NZ CPI beat, stalled USD bounce supports.
• All eyes on Thursday’s Australian employment figures for a fresh directional move.

The AUD/USD pair stalled its three-day losing streak and attempted a minor recovery from two-week lows of 0.7115, as the AUD bulls were rescued by a renewed uptick in its OZ neighbor, the NZD, after New Zealand’s Q4 CPI surpassed expectations.

More so, broad-based US dollar rebound lost legs, which further collaborated to the latest leg up in the spot. The greenback dropped in the US last session after the US existing home sales disappointed markets by a big margin while a sell-off in Treasury yields amid risk-aversion accentuated the downside in the buck. The USD index now trades at 96.30, having faced rejection near 96.40 levels.

The Aussie climbed to session tops near 0.7130 region, but the rebound appears to lack a follow-through amid risk-off market profile, in the wake of the declines on the Wall Street, with the US-China trade tensions back in the spotlight. Also, the extension of the US government shutdown also dampens the investors’ sentiment.

Looking ahead, the pair will continue to take cues from the broader markets sentiment amid looming China slowdown fears, as the focus now shifts towards the Australian jobs reports due this Thursday at 0030 GMT for a fresh trading impetus.

AUD/USD Technical Levels