AUD/USD retreats from 2-month high on weak jobs report

Offered tone around AUD strengthened following the dismal Aussie jobs report, thu pushing AUD/USD pair lower from the two-month high of 0.7734 to 0.77 levels.

Full time job losses mount

Australia's September employment report came at -9.8k vs 15k exp and -3.9k last, with full time job creation at -53k, overshadowing the positive part time jobs number of 43.3k. Unemployment rate decreased slightly coupled with a similar drop in participation rate.

The dismal data release took the wind out of Aussie bulls. The currency pair is now trading on the backfoot below 0.77 handle.  Things are calm from the US side of the story, given the lacklustre action in the treasury yields.  Meanwhile, Aussie 10-yr yield has trimmed gains as well, but is still almost 5 basis points on the day.

AUD/USD Technical Levels

A break below 0.7680 (23.6% of 0.7506-0.7734) would open doors for a slide to 0.7665 (5-DMA) under which losses could be extended to 0.76 handle. On the higher side, breach of session high of 0.7735 could yield an extension of 5-day winning streak to 0.7749 (Aug 16 high) and 0.7760 (Aug 11 high).

  TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Bullish Neutral Expanding
1H Bearish Neutral Expanding
4H Bullish Neutral Low
1D Bearish Neutral High
1W Strongly Bearish Neutral Low

 

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