• AUD/USD eased on Thursday as market digested a softer-than-expected Australian jobs data.
• Data showed ,Australia’s employment fell in August as full-time jobs dropped, though the jobless rate stayed unchanged.
• Australian Bureau of Statistics data on Thursday showed employment fell by 5,400 in August, against forecasts for a 21,500 gain, as full-time jobs slumped 40,900 after July’s revised 26,500 rise.
• The unemployment rate was unchanged at 4.2%, in line with expectations and still low historically, while the participation rate slipped to 66.8%.
• The mixed data left the policy outlook largely unchanged, with investors still betting the RBA will hold rates this month and pricing about a 75% chance of a cut in November.
• Immediate resistance is located at 0.6649 (38.2%fib), any close above will push the pair towards 0.6706(23.6fib)
• Support is seen at 0.6605 (50%fib) and break below could take the pair towards 0.6517(SMA 20).
Recommendation: Good to sell around 0.6630 with stop loss of 0.6700 and target price of 0.6570
