AUD/USD spikes to 1-week high after nonfarm payrolls

AUD/USD spiked to fresh 1-week highs after a below expectations US jobs report pushed away prospects of another rate hike by the Fed in September.

AUD/USD rose over half a cent in the minutes that followed the release and reached a high of 0.7615 before retreating back below the 0.76 mark. At timwe of writing, the pair was trading at 0.7580, still up 0.4% on the day.

US nonfarm payrolls rose by a seasonally adjusted 151,000 in August, slowing from July’s 275,000 and  below the 180,000 expected by analysts.The unemployment rate stood unchanged at 4.9%.

AUD/USD levels to watch

In terms of technical levels, next resistances could be faced at 0.7620 (21-day SMA), 0.7654 (Aug 26 high) and 0.7691 (Aug 26 high). On the other hand, supports are seen at 0.7535 (Sep 2 low), 0.7493 (100-day SMA) and 0.7420 (Jul 27 low).