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FxWirePro: AUD/USD tanks after poor jobs data, good to short rallies

Aussie plunged after data showed the Australia full-time jobs tanked in September, reigniting bets for further RBA easing. Data released earlier today showed that Australia's September employment report came at -9.8k vs …

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FxWirePro: AUD/USD tanks after poor jobs data, good to short rallies
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  • Aussie plunged after data showed the Australia full-time jobs tanked in September, reigniting bets for further RBA easing.
     
  • Data released earlier today showed that Australia's September employment report came at -9.8k vs 15k expected and -3.9k last.
     
  • Full-time job creation stood at -53k, overshadowing the positive part time jobs number of 43.3k.
     
  • The pair ended six-day winning streak and dived sharply into negative territory after dismal jobs data.
     
  • Techs on intraday charts have turned bearish, we see scope for further downside.
     
  • The pair has broken major trendline resistance at 0.77, scope for test of 0.7627.
     
  • Major support levels -  0.7658 (5-DMA), 0.7628 (20-DMA), 0.76, 0.7581 (Oct 17 low)
     
  • Major resistance levels - 0.77 (trendline), 0.7760 (Aug 11 high), 0.78, 0.7835 (Apr 21 high)
    ​

Recommendation: Good to go short on rallies around 0.7670/80, SL: 0.7740, TP: 0.7630/ 0.76/ 0.7580
 

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Major Pair Currency Score: AUDUSD Bearish

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