AUD/USD could test 0.7311-0.7300 on strong US payrolls data

5 May 2017

Despite the sharp sell-off from 0.7556 this week, the RSI is still sufficiently far away from the oversold territory. That means there is enough room for a drop to 0.7311 (Nov 21 low)... especially if the US data betters estimates.
Only a horribly weak US wage growth numbers could yield a recovery to 0.7455 (5-DMA) levels.