AUD/USD remains on the backfoot below 0.7400, looking to extend Thursday’s sell-off amid the recent strength in the US dollar against its major rivals.
The rebound in the Treasury yields and fresh Chinese property sector concerns continue to keep the buoyant tone intact around the greenback. The aussie also remains on a cautious footing ahead of the all-important US Nonfarm Payrolls (NFP) release due later in the NA session at 1230 GMT.
Looking at AUD/USD’s daily chart, the major is testing the mildly bearish 100-Daily Moving Average (DMA) support at 0.7380.
If the latter is breached, the sellers will need to take out the horizontal 50-DMA at 0.7365 on a daily closing basis to seek validation to the downside.
A fresh downswing towards the 0.7300 will be in the offing should the 50-DMA support give way.
The 14-Day Relative Strength Index (RSI) is pointing south below the midline, suggesting that there is more room for the extension of the recent decline.

On the flip side, the aussie bulls will face stiff resistance at the upward-pointing 21-DMA at 0.7443 on the road to recovery.
Recapturing the latter is critical to unleashing the additional recovery gains towards Thursday’s high of 0.7471.
The next critical upside barrier for the pair is envisioned at the 0.7500 round figure.
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