FxWirePro: AUD/USD depressed after downbeat Australia jobs report, bias bearish

AUD/USD chart - Trading View 

AUD/USD was trading 0.23% lower on the day at 0.6868 at around 06:05 GMT, bias bearish.

Aussie depressed after Australia’s May month employment data flashed sluggish reports during the early Thursday.

Data released early today showed Australia’s Unemployment rate rises beyond 7.0% forecast to 7.1% whereas Employment Change declines below -125K expected to -227.7K. 

The pair recovers from daily lows of 0.6837, reached after the Australian jobs report disappointed across all indicators.

A rate cut by PBOC early on Thursday is offering some support. In an unexpected move, the PBOC cut the rate on 14-day reverse repurchase agreements to 2.35% vs. 2.55% previous.

Virus updates as well as news concerning geopolitical tension in Asia, also relating to Iran, will be watched for impetus.

Technical bias is bearish. Scope for dip till 200-DMA at 0.6664. Violation there will open downside. 

Major Support: 0.6664 (200-DMA)

Major Resistance: 0.6934 (100W EMA)