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AUD/USD reaches 2-week highs, RBA eyed

FXStreet (Córdoba) - AUD/USD managed to briefly climb above the 0.7100 level on Monday, as the greenback underperforms following a much weaker than expected jobs report on Friday.

The Australian dollar has been supported by broad gains in stocks amid prospects the Fed might have to wait to raise rates in the light of disappointing job creation. Meanwhile, investors attention turns to RBA decision due on Tuesday, with most analysts expecting main rate to stay unchanged at 2.0%.

AUD/USD climbed to a 2-week high of 0.7110 but failed to hold above the 0.71 mark and pulled back slightly. At time of writing, the pair is trading at 0.7080, still up 0.48% on the day.

AUD/USD levels to watch

As for technical levels, on the upside next resistances are seen at 0.7110 (Oct 5 high), 0.7158 (Sep 22 high) and 0.7175 (50-day SMA). On the other hand, supports could be found at 0.7042 (Oct 5 low), 0.7049 (10-day SMA) and 0.7002 (Oct 2 low).

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