AUD/USD reacts negatively and then bounces on NFP

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - AUD/USD wavered wildly following the release of the US employment report, which showed the economy added more jobs than expected in November.

    US economy added 211,000 new jobs in November, surpassing expectations of 200,000 but down from a 298,000 gain (revised up from 271,000) in October. The unemployment rate was steady at 5.0% as expected.

    AUD/USD initially reacted negatively and fell to a fresh low of 0.7279 but the greenback failed to hold gains for long, sending the pair back to pre-data levels around 0.7320.

    Expectations of a December rate hike by the Fed remain in place following a solid jobs report and recent comments from Yellen who said delaying the lift-off could lead to abrupt tightening later.

    AUD/USD levels to watch

    As for technical levels, AUD/USD could find next resistances at 0.7362 (Dec 3 high), 0.7381 (Oct 12 high) and 0.7400 (psychological level). On the other hand, supports are seen at 0.7283 (Dec 3 low), 0.7262 (10-day SMA) and 0.7221 (Dec 1 low).
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