FxWirePro: AUD/USD edges lower ahead of U.S. jobs data

•  AUD/USD edged lower   on Thursday as market geared up for Friday's crucial jobs report that will set the tone for the near-term rate outlook

•Friday’s U.S. non-farm payrolls report is expected to show an increase of 78,000 jobs in August, compared with a gain of 73,000 in July, according to a Reuters poll.

•   Several Federal Reserve officials noted that concerns over the labour market continue to support their view that rate cuts remain on the horizon, reinforcing expectations of an imminent policy easing.

• Traders are currently pricing in a 96.6% probability of an interest rate cut at the Federal Reserve’s September meeting, according to CME Group’s FedWatch tool.

•  Immediate resistance is located at 0.6557(38.2%fib), any close above will push the pair towards 0.6592(Higher BB)

•  Support is seen at 0.6506(SMA 20) and break below could take the pair towards 0.6472(50%fib).

 Recommendation: Good to sell around 0.6530 with stop loss of 0.6600 and target price of 0.6450