AUD/USD chart - Courtesy Trading View
AUD/USD was trading 0.44% lower on the day at 0.7292 at around 09:05 GMT.
The pair is extending weakness for the 3rd straight session, scope for further weakness.
Dismal Australian jobs data, the risk-off mood weighed on the perceived riskier aussie.
Further, Wednesday’s strong US CPI acted as a tailwind for the USD and added to the selling bias in the pair.
Data Released:
Australian Employment Change defied a +50.0K forecast with -46.3K figures, versus -138K prior.
The Unemployment Rate rose past 4.6% previous readouts and 4.7% market consensus to 5.2% in October.
Aussie Consumer Inflation Expectations for November jumped past 3.6% prior to 4.6%.
US consumer price index surged 6.2% from a year ago in October, the most since December 1990.
Core inflation, stripping out food and energy, increased 4.6%, the fastest gain since August 1991.
Major Support Levels:
S1: 0.7283 (Cloud base)
S2: 0.7245 (trendline)
S3: 0.7202 (200-week MA)
Major Resistance Levels:
R1: 0.73
R2: 0.7362 (5-DMA)
R3: 0.7388 (55-EMA)
Summary: AUD/USD tests cloud support. The pair trades with a bearish bias, poised for further downside. Dip till 0.7245 likely.
