FxWirePro: AUD/USD dips as RBA hike bets falter on jobs anxiety

• AUD/USD came under  pressure on Thursday  after weaker-than-expected Australian employment data dampened expectations of further Reserve Bank of Australia (RBA) interest-rate hikes.

• Data showed Australian employment fell 39,300 in September, the largest drop since early last year and a shock to analysts who had looked for a rise of 20,000.

•The jobless rate stayed at a five-year high of 4.7%, with August revised up from an initial 4.6%. That will be a blow to the Reserve Bank of Australia, which had not expected to see 4.7% reached until the end of 2027.

•Markets reacted by paring the chance of a November rate hike to around 9%, from 32% before the data, while a December move came down to 28% from 56%..

• Australia's unemployment rate rose to 4.7% in September, exceeding market expectations of 4.6%.

• Immediate resistance is located at 0.6999(50%fib), any close above will push the pair towards 0.7064(50%fib).

• Support is seen at 0.6933(38.2%fib) and break below could take the pair towards 0.6906(Oct 1st low ).

 Recommendation: Good to sell around 0.6970, with stop loss of 0.7050 and target price of 0.6900