Following much better than expected labour market report, Aussie pulled up from the D1 trendline (drawn off September lows) ahead of 0.70 level. The rally ran out of steam near 50 DMA (currently ~0.7140) which is the first stronger level to overcome if the pair wants to continue higher.

The level coincides with the H4 trendline that connects highs of the last five weeks. If it gives way, 0.7200 - 0.7225 (W1 trendline, November 4th high, 100 DMA) will come into focus. If it holds, the pair will head for a retest of 0.70.

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