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    AUD/USD: awaits Tokyo for direction and weekend Chinese data Ross J Burland

    AUD/USD is in a consolidation without there being any notable and scheduled events for the Aussie today and the US shift was mixed for the AUD, slightly risk off while gold took on the safe haven status in the wake of renewed dollar weakness this week since the latest set of nonfarm payrolls and Yellen's obvious change of stance."Despite falling slightly overnight, the outlook for oil remains positive – which should keep the recent upward trend intact," explained analysts at ANZ who added,  today, we watch commodities and Asia equity performance for direction, but expect markets to stabilise," and, "The momentum for lower yields continued overnight in major markets and dragged the Australian market along for the ride. We expect the move to continue this morning, although with a long weekend ahead there is scope for some consolidation." For now, we await the Chinese data dump for the weekend for next week's open.AUD/USD levelsAUD/USD has broke up through the 50% retracement and the 55 day ma and analysts at Commerzbank explained that it here that we suspect the up move to start to struggle. "Failure here should cast attention back to the 200 day ma (0.7259). Above 0.7505 will see a deeper retracement to 0.7572 and potentially 0.7688, the 78.6% retracement of the sell off from April.

    "AUD/USD: bid so long as 0.74 holds - FXStreetAUD/USD could extend the bull run to 0.7550 – Westpac


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