The Australian Dollar advanced for the third straight trading day, early in the North American session, edges up 0.35%, and exchanges hands at 0.6654.
Aussie Dollar’s strengthens as the US Dollar extends its weekly lossesRecently released data by the US Department of Labor revealed the US Nonfarm Payrolls for February exceeded estimates of 200K, came at 275K, and was higher than January’s downward revised 353K reading to 229K. Further data underscored that the jobs market is cooling as the Unemployment Rate increased from 3.7% to 3.9%, while Average Hourly Earnings edged lower in monthly and annual figures.The AUD/USD extended its rally toward a daily high of 0.6664, while US Treasury bond yields edged lower. The US 10-year benchmark note rate is down to 4.044%, the lowest level since February 2.At the same time, the US Dollar Index (DXY) is tumbling 0.25%, sitting at 102.52, threatening to drop to an eight-week low.
New York Fed Williams: Neutral interest rates “still quite low”Earlier, the New York Fed President John Williams said the restrictive monetary stance has cooled demand, adding that the Fed is responsible for achieving price stability. He said the Fed doesn’t consider politics in deliberations and stated the economy in 2023 was remarkable.Aside from this, Australian data revealed during the week showed a surplus in the Trade Balance, while the economy grew 0.2% QoQ in Q4 2023, below estimates of 0.3%. On a yearly basis, the economy expanded 1.5% YoY, above estimates but shy of the previous reading of 2.1%.
AUD/USD Price Analysis: Technical outlookThe AUD/USD sitting above the 0.6600 figure, has opened the door for further upside, as confirmed by Relative Strength Index (RSI) studies at bullish territory. If buyers extend the rally toward 0.6700, that could open the door for testing the January 5 high at 0.6747, before challenging the 0.6800 mark. On the other hand, a pullback below the January 5 low of 0.6640, could exacerbate a test of the 0.6600 figure. 
AUD/USD
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