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AUD/USD takes a breather near 5-month lows

FXStreet (Córdoba) - AUD/USD managed to stabilize and entered into a consolidation phase after a 3-day selloff that led the Aussie to its lowest level in over 5 months.

AUD/USD broke below the 0.9200 level and the 200-day SMA Wednesday and precipitated to a low of 0.9112 at the beginning of the European session, before finding support and settling in a range. At time of writing, AUD/USD is trading at 0.9140, 0.67% below its opening price.

Australian jobs data is scheduled for Thursday’s Asian session. Consensus calls for a 12,000 job gain and jobless rate to drop to 6.3% in August. The neighbor Reserve Bank of New Zealand will decide on monetary policy, and even though no changes are expected, it could create some turbulence for the Aussie.

AUD/USD technical levels

In terms of technical levels, next supports for AUD/USD are seen at 0.9112 (Sept 10 low), 0.9100 (psychological level) and 0.9047 (Mar 24 low). On the other hand, resistances could be found at 0.9182 (200-day SMA), 0.9200 (psychological level) and 0.9216 (Sept 10 high).

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