AUD/USD looks to try and undo yesterday's technical setback

<p>The post-RBA drop yesterday saw AUD/USD took out its 200-day moving average (blue line) and that is the key technical point of contention today, with the pair up 0.5% to 0.6580 currently:</p><p>The key level is sitting at 0.6577 and if buyers can push back above that, it will be a good platform to build back the upside momentum from November. But keep below, and sellers will stay reinvigorated in search of a further retracement after the drop from earlier this week.</p><p>The notable headline for the aussie today was the softer-than-expected Australian GDP data <a href="https://www.forexlive.com/news/australian-q3-gdp-02-qq-vs-expected-04-20231206/" target="_blank" rel="follow">here</a>. However, that has not really dented the enthusiasm for the currency on the day. Instead, it seems like a better risk mood and the potentially lower setup to the US jobs report on Friday are factors that could be well in consideration.</p><p>On the latter, the JOLTS data yesterday <a href="https://www.forexlive.com/news/jolts-october-job-openings-8733m-vs-9300m-estimate-20231205/" target="_blank" rel="follow">here</a> is one that is hinting at further softness in the jobs market towards year-end.</p>

This article was written by Justin Low at www.forexlive.com.