AUD/USD wavers after US employment report

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/USD wavered between daily lows and highs, although it remained well within its weekly range, following the release of the US employment report.

    US nonfarm payrolls showed the economy added only 151,000 new jobs in January, below the 190,000 expected and down from a revised 262,000 gain in December. Meanwhile, the unemployment rate fell below 5.0% for first time in 8 years to 4.9%.

    AUD/USD initially moved up and hit a daily high of 0.7217 as the greenback weakened, but quickly turned down, falling to a low of 0.7165. At time of writing, AUD/USD was trading at 0.7170, 0.40% below its opening price.

    AUD/USD levels to watch

    In terms of technical levels, AUD/USD could find next resistances at 0.7242 (Feb 4 high), 0.7300 (Jan 4 high/psychological level), 0.7329 (200-day SMA) and 0.7385 (Dec 45 2015 high). On the downside, short-term supports are seen at 0.7144 (100-day SMA), 0.7085 (10-day SMA) and 0.7002/00 (Feb 3 low/psychological level).
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