Bullish view
- Buy the AUD/USD pair and set a take-profit at 0.6800.
- Add a stop-loss at 0.6650.
- Timeline:1-2 days.
Bearish view
- Sell the AUD/USD pair and set a take-profit at 0.6650.
- Add a stop-loss at 0.6800
The AUD/USD exchange rate rose for two straight days, reaching its highest level since January 7. It rose to a high of 0.6752, up from this week's low of 0.6667 as traders focus on the upcoming Australian jobs data.
Australia Jobs Data Ahead
The AUD/USD exchange rate continued rising and is now hovering near its highest point this month as the US dollar weakness continued. It has jumped by nearly 14% from its lowest level in 2025.
The pair rose as the US Dollar Index (DXY) dropped to $98.27, down by nearly 1% from its highest level this month. This price action happened as Donald Trump insisted that the US will take Greenland.
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Trump has insisted that taking Greenland is important for national security and is not ruling out using the military to achieve that. An invasion would lead to more jitters since Greenland is a member of NATO.
The AUD/USD pair also rose as investors reacted to the decision by the Supreme Court to postpone the decision on Donald Trump's tariffs. It is unclear why the delay is happening, even though analysts believe that the court will rule against the tariffs.
The next key catalyst for the AUD/USD pair will be the upcoming Australian jobs data, which will come out on Thursday. Economists expect the data to show that the participation rate rose from 66.7% to 66.8%.
The report is expected to show that the economy created 30k jobs in December after shedding 21.3k in the previous month. The unemployment rate is expected to move from 4.3% to 4.4%.
These numbers will help the bank to hold interest rates steady at 3.6% in the upcoming meeting. Some analysts also believe that the bank will hike rates later this year as inflation has remained at an elevated level.
AUD/USD Technical Analysis
The daily timeframe chart shows that the AUD/USD pair has remained in an upward trend in the past few weeks, moving from a low 0.6425 to a high of 0.6850.
It recently moved above the key resistance level at 0.6710, its highest level in September last year. It remains above the 50-day Exponential Moving Average (EMA), while the Percentage Price Oscillator has remained above the zero line. Therefore, the pair will likely continue rising as bulls target the key resistance level at 0.6800
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