• AUD/ USD rebounded on Thursday as gains were driven by stronger-than-expected jobs data, which encouraged traders to reconsider their bets on an earlier interest rate cut by the RBA.
• November's figures showed the jobless rate fell to 3.9%, its lowest level in eight months, defying analysts' expectations, who had forecast a rise to 4.2%.
• Employment increased by 35,600 in November, surpassing forecasts of a 25,000 rise and extending the strong performance of Australia's labor market throughout the year.
• At GMT 06:03, The Australian dollar was last trading up 0.79% to $0.6420, rebounding from 13-month of $0.6337 hit overnight
• Immediate resistance is located at 0.6427(9SMA), any close above will push the pair towards 0.6461(50%fib).
• Support is seen at 0.6409 (38.2%fib) and break below could take the pair towards 0.6342(23.6%fib).
Recommendation: Good to sell around 0.6450, with stop loss of 0.6520 and target price of 0.6360.
