AUD/USD Weekly Analysis:AUD at a delicate level, US employment data can turn situation

Wall Street record highs despite an increased mood supported the aussie.

Below-expectation Australian figures topped the bull side.

Modest AUD recovery is not sufficient for further rally

The pair - AUD-USD - moved a couple of pips above the 0.7600 price level, high for the week after dwindling to a new 2021 low of 0.7476 price level. The currency pair recovered ground on the bounders of a widespread optimistic markets temperament.

Markets hover round the US monetary policy

The US Fed Chair Jerome Powell appeared in front of Congress on Tuesday but his testimony had zero influence on price action, as he quite repeated what he professed in the FOMC report.

Macroeconomic figures in the US fell short of prospects. Durable Goods Orders hiked to 2.3% in May, while the PMIs came out above 60 in June, according to preliminary estimates. Initial Jobless Claims for the week closed June 18, printed at 411K. Finally, the Core Personal Consumption Expenditures Price Index hopped to 3.4% YoY as anticipated in May.

Coming week events- Fundamental Analysis

Coming week attention will be on the US employment data. On Wednesday, the ADP survey on private jobs creation will be released and is predicted at 450K for June, just beneath the previous 978K. The country will issue weekly unemployment claims on Thursday ahead of the June NFP statement which will be out on Friday. Currently, market prospects signals to a 600K rise in the headline figure, while the unemployment rate is predicted diminishing from 5.8% to 5.7%. Meanwhile, the US will issue the official ISM Manufacturing PMI.

The coming week will be quiet for Australia, as it will only issue the June AIG Performance of Manufacturing Index and the May Trade Balance. However, Chinese data may propel some actions, as the nation issues the official NBS June PMIs coming Wednesday.

AUD-USD technical Analysis

The pair has improved half way the lost ground in the former week, though additional advances remain indistinct. In the weekly chart, the AUD-USD pair is building beneath a flat 20 SMA, which is at around the 0.7710 price, while the longer MAs are also deficient of steering forte but way beneath the present level. Technical pointers have twisted discreetly higher but persist inside negative levels.

Daily wise, the pair has succeeded to recuperate overhead a flat 200 SMA but persists beneath the briefer ones, and with the 20 SMA upholding its bearish curve. Technical pointers altered oversold settings from the former week´s bearish trend but persist within negative levels, lacking forte sufficient to enhance sustained retrieval.

Considering the present level, supports appear at levels 0.7530 and 0.7460, shadowed by the 0.7390 price region. The instant resistance level is at 0.7620, and a breach above it favors further advance towards the 0.7700 zone.

AUD-USD Sentimental Analysis

From the chart, the short-term MA has improved, but the longer ones stay flat, signifying restricted buying attention