FundamentalOverviewThe USD remains weak acrossthe board as market participants now await the key US data releases with thegovernment shutdown expected to end this week. Yesterday, we saw some moreweakness following soft weekly ADP data that showed job losses in thesecond half of October. The initial weakness didn’thold though as the US dollar eventually regained some ground. It seems like themarket is now just waiting for the government data to confirm the weakness andthe December cut. In fact, the market pricing is still standing around 64%probability for a December cut.On the AUD side, thecommodity currency has been supported by the US-China deal and the more hawkishRBA following the very hot Australian quarterlyCPI which erased all the rate cut bets as traders expected the central bank tokeep rates steady for a more sustained time. Tomorrow, we have the Australianemployment report but it’s unlikely to change anything for the RBA if it comesout good as it would just reinforce the RBA’s patient stance. Conversely, if weget bad data, we might see the market bringing forward the rate cut bets andweigh a bit on the AUD. AUDUSDTechnical Analysis – Daily TimeframeOn the daily chart, we cansee that AUDUSD broke above the key 0.6520 level opening the door for a rallyinto the 0.6627 level next. The buyers piled in on the break targeting the0.6627 level, while the sellers will want to wait for the price to fall backbelow the 0.6520 level to position for a drop back into the 0.6440 level next.AUDUSD TechnicalAnalysis – 4 hour TimeframeOn the 4 hour chart, we cansee more clearly the break and the consolidation above the 0.6520 level. This morning,we are seeing some more USD weakness, which should keep the buyers in chargeinto the 0.6575 level. AUDUSD TechnicalAnalysis – 1 hour TimeframeOn the 1 hour chart, we cansee that the price is breaking above the upper bound of the recentconsolidation. We can expect the buyers to increase the bullish bets into the0.6575 level as long as the price stays above the upper bound. The sellers, onthe other hand, will want to see the price falling back below the upper boundto fade the move into the 0.6520 level. The red lines define the average daily range for today. Upcoming CatalystsTomorrow we get the Australian employment report. This article was written by Giuseppe Dellamotta at investinglive.com.