AUD/USD Struggles For Support
The Australian dollar softens as lockdowns led to sharp job losses in August.
The pair has struggled to hold on to gains after 0.7400. Traders are testing supports as the initial surge fades.
A break below 0.7310 is a sign of weak buying interest. Then a breach below 0.7290 would lead to a test of 0.7245 which happens to be the 61.8% Fibonacci retracement level from the daily chart.
The resistance could cap a rebound at 0.7345 and rather be an opportunity to sell into strength.
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