FxWirePro: AUD/USD grinds lower despite upbeat Australia employment data, tests 200H MA support at 0.6266

AUD/USD chart - Trading View 

AUD/USD was trading 0.70% lower on the day at 0.6273 at around 05:00 GMT.

The pair is extending previous sessions weakness and has slipped below 55-EMA support.

Aussie bulls unimpressed despite above-forecast Aussie Employment data. Jobs unexpectedly increased in March, although Full-time employment dropped. 

Data showed the Australian economy added 5.9K jobs in March versus expectations for 40K drop, having added 27.3 jobs in February. 

The jobless rate rose to 5.2% from February's 5.1%, missing the expected print of 5.5% by a big margin. Part-time Employment rose by 6.4K, Full-time jobs dropped by 0.4K.

Fears of impending recession and the resultant haven demand for the US dollar keeps downside pressure.

Signs of upside exhaustion in the pair. RSI has turned and stochastics are on verge of rollover from  overbought levels.

Major trend in the pair is neutral as evidenced by GMMA indicator, while minor trend is turning bearish.

The pair is currently holding support at 200H MA at 0.6267. Break below will see bearish extension.

Next major support lies at 21-EMA at 0.6235 ahead of 20-DMA at 0.6139. Focus on U.S. jobless claims for further impetus.