A drop in Australia’s unemployment rate barely lifted its currency as traders’ prices in the US taper.
The breakout below the demand area at 0.7600 is a sign of mounting bearish pressure. 0.7530 is a critical support to safeguard the uptrend from a medium-term perspective. Its breach could trigger an extended sell-off leading to a reversal.
An oversold RSI is rising back to the neutral area.
A combination of profit-taking and fresh buying may lift the price to the immediate resistance at 0.7640.
