AUD/USD: testing 1hr 20 sma on rebound

AUD/USD has rebounded from lows of 0.7285 and rallied to highs of 0.7368 and testing the 20 sma on the 1hr sticks at 0.7367.

AUD/USD was bid overnight after the Australian jobs report that came with the headline employment change at +17.9k vs 15k expected with the unemployment rate held steady at 5.7%. A conundrum for the RBA given low levels of inflation.

AUD/USD has since come a cropper from the highs of 0.7445 yesterday and headed back into the path of the downside channel from 0.7504 highs meeting aforementioned lows. Volatility has picked up again  ahead of next week's RBA Minutes and Brexit on Thursday. Before that, Fed Chair Yellen's testimony to the US Senate will be one to watch. 

AUD/USD levels

AUD/USD is up to test the 20 sma on the 1hr sticks with the cluster of ma's through there around 0.7380 as a potentially strong level of resistance. The 200 sma is located at 0.7404 and the recent highs at 0.7445 as key target to open 0.75 and early June highs. To the downside, a break of 0.7285 opens 0.72 key psychological level.