Hello everyone! Today AUD/USD is holding gains above 0.6400 today, after testing the 0.6450 level in immediate reaction to Australia's strong labor market report, which showed a huge jobs gain of 64, 9k in August. The upside seems elusive as the market remains risk-averse ahead of a fresh batch of US data.
A break above 0.6440 would open the door for further gains, targeting 0.6470. Conversely, if the pair falls below 0.6420, a test of the 0.6400 level is likely and the next level to watch is the dynamic support at 0.6390. A break below this support could expose the monthly low.
Support levels: 0.6420 0.6400 0.6355
Resistance levels: 0.6440 0.6470 0.6500