“¢ Disappointing Chinese trade balance figures exert some fresh downward pressure. “¢ A modest USD pull-back from fresh YTD tops helped limit any follow-through selling. “¢ Today’s key focus will remain on the closely watched US monthly jobs report – NFP. The AUD/USD pair quickly reversed an Asian session uptick to 0.7030 area and is currently placed at the lower end of its daily trading range, or over two-month lows. The pair met with some fresh supply remained on the defensive on Friday, also marking its seventh down day in the previous four, following the disappointing release of Chinese trade balance figures for the month of February. In fact, China’s trade surplus shrunk to $4.12 billion during the reported month, down from $39.16 billion surplus recorded in January, led by a sharp 16.6% y/y drop in exports and exerted pressure on the China-proxy Aussie. The pair extended its recent rejection slide from the 0.7200 handle and dropped to the key 0.7000 psychological mark, albeit managed to find some support at lower levels amid a modest US Dollar pull-back. The greenback trimmed a part of the overnight strong gains to fresh YTD tops, supported by dovish ECB-led slump in the shared currency, and was seen as one of the key factors lending some support to the major. Moreover, investors also seemed reluctant to place aggressive bets and preferred to wait for today’s key event risk – the release of the closely watched US monthly jobs report for February, popularly known as NFP. The US economy is expected to have added 180K new jobs in February, down from 304K in the previous month, while the unemployment rate is anticipated to have ticked lower to 3.9% as against 4.0% in January. Meanwhile, Average hourly earnings, which have gained traction in the recent past, are expected to have risen by 0.3% m/m and by 3.3% y/y and any positive surprise would be enough to give a fresh boost to the buck and exert some additional downward pressure on the already weaker Australian Dollar. Technical levels to watch AUD/USD Overview: Today Last Price: 0.7009 Today Daily change: -1 pips Today Daily change %: -0.01% Today Daily Open: 0.701 Trends: Daily SMA20: 0.7108 Daily SMA50: 0.7133 Daily SMA100: 0.7161 Daily SMA200: 0.7243 Levels: Previous Daily High: 0.7052 Previous Daily Low: 0.7004 Previous Weekly High: 0.7199 Previous Weekly Low: 0.7069 Previous Monthly High: 0.7285 Previous Monthly Low: 0.7053 Daily Fibonacci 38.2%: 0.7022 Daily Fibonacci 61.8%: 0.7034 Daily Pivot Point S1: 0.6992 Daily Pivot Point S2: 0.6974 Daily Pivot Point S3: 0.6944 Daily Pivot Point R1: 0.704 Daily Pivot Point R2: 0.707 Daily Pivot Point R3: 0.7088 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/USD still pressured after the blow from the ECB Yohay Elam 4 years "¢ Disappointing Chinese trade balance figures exert some fresh downward pressure. "¢ A modest USD pull-back from fresh YTD tops helped limit any follow-through selling. "¢ Today's key focus will remain on the closely watched US monthly jobs report - NFP. The AUD/USD pair quickly reversed an Asian session uptick to 0.7030 area and is currently placed at the lower end of its daily trading range, or over two-month lows. The pair met with some fresh supply remained on the defensive on Friday, also marking its seventh down day in the previous four, following… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.