AUD/USD: in heavily bearish territory, capped 0.7450's eyeing 0.73/3065

Currently, AUD/USD is trading at 0.7379, up 0.08% on the day, having posted a daily high at 0.7385 and low at 0.7372.

AUD/USD fell into highly bearish territory in yesterday's trade after the series of domestic and Chinese data was digested.  In Asia, the Aussie was fragile but got a lift on retail sales and parts of CAPEX that was mixed but positive in areas. AUD/USD was capped at 0.7450, (a key level where a large option expiry in AUD 891mn strike - 0.7455 is located for tomorrow). 

Key data from the US session:

US: Private-sector employment increased by 253,000 from April to May - ADP

"In May, the US economy is expected to have added 185,000 new jobs, a decent figure but below the 211K added in April, " noted Valeria Bednarik, chief analyst at FXStreet within the nonfarm payrolls preview: Nonfarm Payrolls Preview: get ready to be disappointed; Again ...  

US: Economic activity in the manufacturing sector expanded in May - ISM

AUD/USD levels

AUDUSD: The market has suddenly turned very bearish

Valeria Bednarik, chief analyst at FXStreet explained that in the 4 hours chart, the price is holding well below a bearish 20 SMA. "Technical indicators head sharply lower within negative territory, supporting some additional declines ahead, particularly on a break below 0.7365, the immediate support.  Below 0.7330, the pair has scope to extend its decline down to 0.7250, a major long-term static support."