FxWirePro: AUD/ USD outlook weaker on renewed downside pressure

• AUD/USD  slipped below 6500 level on Thursday as the U.S. dollar continued its strong performance.

• On the data front, Australia increased by 15,900 in October, falling short of market expectations for a 25,000 rise and breaking a four-month streak of larger-than-expected gains.

• Unemployment stayed at an historically low 4.1%, where it has been since April as strength in hiring was matched by a sharp rise in the workforce.

 • At GMT 06:00, the pair was down at 0.33 percent at 0.6463 , lowest level since Aug 5th .

• Technical highlight downside risk for AUD/ USD, with momentum studies, 5, 10 and 11 SMAs tracking south.

• Immediate resistance is located at 0.6498(38.2%fib), any close above will push the pair towards 0.6538(50%fib).

• Support is seen at 0.6458(23.6%fib) and break below could take the pair towards 0.6400 (Psychological level).

 Recommendation: Good to sell around 0.6540, with stop loss of 0.6640 and target price of 0.6470