Australian Dollar remains in negative territory since the topside rejection

December 3, 2021 - 2 months ago
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The Australian Dollar bearish sentiment holds for the fourth consecutive day after Wednesday’s bruising session for the bulls has kept the initial focus on 0.7060. Reassess from there.

Based on the technical assessment, failing to hold at 0.7060 should expose the 0.7010 level.

However, a bullish response is expected to emerge soon due to the oversold condition.

Later Friday, we get the latest update to the U.S. jobs report (Non-Farm Payrolls).

The forecast data predicts hiring in the U.S. accelerated in November for the second month in a row.

With much volatility expected the forecast states that 553,000 jobs were added in November, up from 531,000 in October.

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