AUD/USD revisits 0.7450 area on downbeat Aussie jobs report

AUD/USD printed a session low of 0.7450 after the data released in Australia showed the economy shed jobs and the drop in the unemployment rate was accompanied by a fall in participation rate.

Rejected at 100-DMA

The spot failed to hold above the 100-DMA level of 0.7479 and was last seen trading around 0.7460 levels.

AUD shed few pips after the official report showed Australia shed 3.9K jobs in August, missing the estimated gain of 15K. The drop in the unemployment rate to 5.6% from 5.7% is not really positive when viewed in light of the drop in the participation rate to 64.7%.

Still, the losses are being capped, with pair managing to hold around 0.7460 levels. The currency has come under pressure off late as rising global yields reduced the appeal of high yielders – AUD, NZD.

AUD/USD Technical Levels

Acceptance above 0.7479 (100-DMA) would open doors for 0.75 (zero figure + 5-DMA), above which the spot could test 0.7561 (Pivot R3). On the lower side, breach of 0.7446 (Pivot S1) could yield 0.74 (zero figure) and 0.7371 (June 30 low).