FxWirePro: EUR/AUD moves higher following downbeat Australian jobs report

• The EUR/AUD rebounded on Thursday as the Australian dollar weakened following  downbeat November jobs report.

• ABS data released Thursday showed a 23,100 fall in employment for November, missing the anticipated 20,000 increase and reversing the 41,200 jobs added in October. Full-time employment saw a steep 56,500 decline.

• Annual job growth eased to 1.3% in November, down sharply from 3.5% at the start of the year and trailing the nation’s 2% population growth.

• The unemployment rate held at 4.3%, defying expectations for a rise to 4.4%. The participation rate slipped to 66.7% from 66.9%, while hours worked were unchanged after several strong months...

•The RBA opted to keep rates at 3.6% on Tuesday and signalled no further easing, citing a renewed spike in inflation. Governor Michele Bullock said policymakers debated staying on hold or tightening again after three rate reductions in 2025.

•  Immediate resistance is located at 1.7639(38.2%fib), any close above will push the pair towards 1.7715 (SMA 20).

•  Support is seen at 1.7469(23.6%fib) and break below could take the pair towards 1.7416(Lower BB).

Recommendation: Good to sell around 1.7630 with stop loss of 1.7740 and target price of 1.7550