The Australian Dollar pared its early gains against the US Dollar on Thursday, retreating from a two-week high. The AUD/USD pair failed to maintain its upward momentum after a brief rally fueled by a stronger-than-expected domestic employment report. The exchange rate subsequently stalled in its tracks just below a key technical barrier, highlighting a continued struggle for buyers to control the market's direction.
The rally lost steam as the currency pair encountered significant resistance at the 50-day Simple Moving Average. This important technical level proved too formidable for buyers, causing the early advance to reverse. The pullback indicates that despite the positive fundamental data, broader market sentiment remains cautious, limiting the Aussie's strength against the greenback.
Traders are now assessing whether the AUD can muster the strength to break through this critical technical ceiling. A sustained move above the 50-day SMA would signal a potential shift in near-term momentum, while a rejection could see the pair retreat toward lower support levels. The market's next direction hinges on this technical battle.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-13 17:40
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.