Posted 4/8/2024, 3:12:20 AM
Australian Dollar Rebounds on Improved Market Sentiment as US Dollar Rises on Positive Jobs Data
- Australian Dollar rebounds due to improved market sentiment and ASX 200 gains
- US Dollar strengthened on Friday following positive jobs data reducing chances of a Fed rate cut
- Australia's trade surplus narrowed in February to smallest level in 5 months
- US nonfarm payrolls added over 300,000 jobs in March, exceeding expectations
- Technical analysis shows immediate resistance for AUD/USD around 0.6596; support at 0.6557 and 0.6550