AUDUSD TECHS: Trend Needle Points South

• RES 4: 0.7310 1.00 proj of the Mar 30 - May 6 - Jun 30 price swing
• RES 3: 0.7278 High May 6 and key resistance
• RES 2: 0.7223 High May 15
• RES 1: 0.7208 High Aug 28
• PRICE: 0.7168 @ 16:51 BST Sep 02
• SUP 1: 0.7116 20-day EMA 
• SUP 2: 0.7070/0.6922 50-day EMA / Low Jul 29  
• SUP 3: 0.6907 Low Jul 8 
• SUP 4: 0.6865 Low Jun 30 and the bear trigger 

A bull cycle in AUDUSD remains intact - for now - and a fresh cycle high last week reinforces current trend conditions. The pair has breached 0.7181, the 76.4% retracement of the May 6 - Jun 30 bear leg. The move higher strengthens the bull theme and maintains the rising price sequence of higher highs and higher lows. Sights are on 0.7223 next, the May 15 high. Key support to watch is the 50-day EMA at 0.7070.

• 10,000 TUV6 102.87 calls, 3 ref 102-17.25
• 25,000 Thu wkly TY 107.25/107.5 put spds (exp 9/3) vs. 50,000 Wed wkly TY 107 puts (exp 9/9)

We have published our preview of the upcoming US Payrolls report, found here: https://media.marketnews.com/USNFP_Aug2026_Preview_232e480aed.pdf 

Refer to the publication for the following: 

• MNI analysis of what to watch for this month, including local government roles and TPS revocation
• Dispersion of analyst views across nonfarm payrolls growth, the unemployment rate and wage growth
• Pertinent detailed comments from analysts across the spectrum of views
• MNI analysis of a range of alternate labor indicators
• A hawkish build-up to the release with US rates hitting fresh hawkish extremes this week