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2025-07-31 17:56:11
[AUD/USD Lifeline: Could NFP Data Trigger a Market Shake?] ⑴ The Australian dollar hit a low of 0.6427 against the US dollar on Wednesday, its lowest level since June 23. ⑵ The strengthening US dollar was the primary driver of the Australian dollar's decline. ⑶ The 0.6427 level represents the 50% Fibonacci retracement level of the 0.6943-0.5910 decline from September last year to April this year, providing significant technical support. ⑷ More significant support lies at the 100-day moving average, which extended from 0.6427 to 0.6428 between Wednesday and Thursday. ⑸ Notably, the 100-day moving average crossed above the 200-day moving average (currently at 0.6390) in mid-July, providing additional bullish support. ⑹ On Thursday, the Australian dollar was testing the upper and lower edges of the daily Ichimoku cloud, which ranges from 0.6433 to 0.6476. 7. Upward resistance lies at the 50-day moving average and Wednesday's high of 0.6513-0.6529. 8. The future direction of the AUD/USD pair will depend primarily on the US dollar's subsequent performance. 9. The upcoming release of US non-farm payroll data (NFP) will be a direct risk event for the market, potentially triggering significant volatility.
