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Australian dollar has been on of the more resilient currencies of late. Labour market report today and wage price index a day earlier were fairly solid, giving it further support. AUD/USD is back above 0.75 and appears ready to take out last week's high. Not out of the woods yet but the pair could be on the way to 0.765. As always with this pair, much depends on the U.S. dollar and risk sentiment.
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Aussie breaks below 38.2% retracement
AUD/USD fell 50 pips overnight, after the release of weaker than expected Wage Price Index. 38.2% retracement of the 2016 - 2017 upswing now looks properly broken. 0.75 - 0.755 area is the next major support. It includes 2016 - 2017 trendline, the big figure, and is backed by 50.0% retracement.