AUD/USD Facing Selling Pressure Near 0.6850 as Traders Brace for US NFP

Friday, 4 October 2024, 03:24

AUD/USD is facing selling pressure near 0.6850 as traders brace for upcoming US NFP data. The RBA and Fed's decisions are pivotal for the dollar index's future trajectory. With the market eyeing economic indicators closely, the direction of the Aussie dollar could shift dramatically based on the NFP results.
Fxstreet
AUD/USD Facing Selling Pressure Near 0.6850 as Traders Brace for US NFP

AUD/USD and Its Current Resistance Level

The AUD/USD pair remains offered near the key resistance of 0.6850 during Friday’s European session. The latest movements in the currency pair reflect the ongoing pressure as traders prepare for the Nonfarm Payrolls (NFP) release in the United States, which can significantly impact market sentiments.

Impact of RBA and Fed on AUD/USD

The Reserve Bank of Australia (RBA) and the Federal Reserve (Fed) are central to how the dollar index reacts post-NFP. Expectations surrounding monetary policy adjustments can create volatility, influencing the AUD/USD pair considerably.

  • Traders are cautious of the RBA's next moves.
  • Fed policies play a significant role in dollar strength.
  • NFP outcomes could steer the direction of AUD/USD prices.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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