AUD Rebound Falters as Resistance Looms Ahead of Jobs Report

Australia's consumer sentiment saw a significant rebound in August after the Reserve Bank of Australia (RBA) held interest rates steady, according to the latest Westpac survey.

The index rose from 83.9 to 88.9, marking its fastest rate of improvement since November and outperforming expectations.

However, despite this surge in sentiment, underlying growth remains soft, suggesting that the RBA may not rush into another interest rate hike.

AUD/USD has been trading near 10-week highs but is showing early signs of fatigue around resistance ahead of Thursday's employment report, with bulls facing a key test at 0.7140.