• The AUD/USD dipped on Thursday as market reacted to Australian employment data.
• Australian employment surged beyond expectations in December, despite a slight uptick in the unemployment rate as many more people went looking for work.
• The jobless rate rose to 4.0% from 3.9%, as expected, while the participation rate edged up to a record high of 67.1% from 67.0%.
•Annual job growth surged to an impressive 3.1%, more than twice the historical average, while the labor force expanded at a similar pace.
• At GMT 05:48, The Australian dollar was last trading down 0.11% to $0.6139.
• Immediate resistance is located at 0.6230(38.2%fib), any close above will push the pair towards 0.6297 (50%fib).
• Support is seen at 0.6179 (Jan 15th low) and break below could take the pair towards 0.6145 (23.6%fib)
Recommendation: Good to sell around 0.6210, with stop loss of 0.6290, and target price of 0.6150
