The pair AUD/USD continues to trade under pressure on Wednesday, with the USD on your gains of the recovery since yesterday. At this time, the pair is trading at 0.7922, losing 0.38% on the day.
After a rise towards the area of the middle zone 92 in the first half of the day, the index of the US Dollar regained traction in the american session after macro data from the US which increased the demand for the dollar.
According to data published by the Bureau of Economic Analysis, the growth preliminary GDP in the second quarter in the united States improved to 3% from 2.6%, beating the market expectations of 2.7%. On the other hand, the National Report on Employment from the ADP revealed that private sector employment increased in 237.000 on a monthly basis in August, increasing expectations of a strong reading on the NFP on Friday. The index of the dollar reached its maximum session at 92.80 after the data and now operates at 92.70, up 0.47% on the day. There are No meaningful data in the rest of the day and it is likely that the pair remains near its lows daily.
In the first Asia session of Thursday, will be announced new home sales, private sector borrowing and expenditure of private capital of Australia. However, the impact of the data might still be limited since it is likely that investors will focus on the movements of the dollar.
On the daily chart, the RSI indicator is struggling to get away from the zone 50, suggesting that the pair has difficulties to establish your following the direction of the short-term. On the negative side, the initial support may be seen at 0.7900/05 (psychological level/DMA 20) before 0.7865 (DMA 50) and 0.7805/00 (minimum of 15 from the August/psychological level). On the positive side, resistances line up at 0.8000 (daily maximum/psychological level), 0.8040 (maximum of 1 of August) and 0.8100 (psychological level).