AUD/USD nears 0.77 handle on super strong Aussie jobs data

Bid tone around AUD strengthened, pushing the AUD/USD pair to fresh daily high of 0.7699 after the release of a stellar monthly Australia employment numbers.

Adds 25-pips on jobs data

Aussie unemployment data released just now is very strong. The report carried a downtick in jobless rate to 5.7% as opposed to an expected rise to 5.9%.  The net change in jobs was more than double the forecast at +26.2K.

The bird is trading around 0.77 handle compared to the pre-data level of 0.7650. The pair found support around 0.7610 in the NY session following the release of a Fed minutes which disappointed hawks.

AUD/USD Technical Levels

A break above zero figure of 0.77 would open doors for a 0.7760 (Aug 11 high). A violation there on daily closing basis could yield a rally to yearly high of 0.7835. On the lower side, 5-DMA and 10-DMA are attempting a bearish crossover around 0.7670. Thus, a break below 0.7670 would shift risk in a favor of a drop 0.7609 (yesterday’s low). A cut below the same would expose 50-DMA seen today at 0.7530.