AUD/USD pulls back from highs after NFP, still on track for weekly gain

AUD/USD pulled back from daily highs as the greenback strengthened following the release of the US nonfarm payrolls report.

Despite the US economy created less jobs than expected (156K vs 178K expected) the details were encouraging. November and October’s figures were revised by a combined +19,000 while  hourly pay increased 2.9% from a year earlier, marking the fastest yearly increase since mid-2009.

AUD/USD came under mild pressure and made fresh lows for the day at 0.7304. The pair was last trading at 0.7309, still down 0.31% on the day but on track to post a gain for the first week of 2017.

AUD/USD levels to watch

As for technical levels, next supports are seen at 1.0490 (21-day SMA), 1.0389 (Jan 4 low) and 1.0339 (Jan 3 low). On the other hand, resistances line up at 1.0616 (Jan 6 high), 1.0662 (50-day SMA) and 1.0700 (psychological level).