FxWirePro: AUD/USD consolidating around 0.6480, room for further gains

•  AUD/USD strengthened  on Monday   as the U.S. dollar slid following a softer-than-expected jobs report.

• U.S. nonfarm payrolls data released on Friday came in significantly below expectations, reinforcing market speculation that the Federal Reserve will cut interest rates in September.

• The jobs miss is being interpreted as a signal that the labor market is losing momentum, adding to the case for policy easing.

• The Fed now faces a complicated policy landscape. While weak jobs growth calls for rate cuts, the newly imposed tariffs are starting to feed into inflation, creating a conflict between growth and price stability objectives. This could make decision-making increasingly difficult for Fed policymakers in the months ahead. 

• Looking ahead, markets will be watching for U.S. June factory orders on Tuesday  for further signs of economic softness.  

•  Immediate resistance is located at 0.6527(SMA 20), any close above will push the pair towards 0.6611(23.6%fib)

•  Support is seen at 0.6426(38.2%fib) and break below could take the pair towards 0.6408(Lower BB).

  Recommendation: Good to buy  around 0.6470 with stop loss of 0.6400 and target price of 0.6540