AUD/USD makes a comeback from Aus jobs-led drop

The AUD/USD pair quickly bounced-off a dip below 0.75 handle and now wavers  near daily highs, as risk-on sentiment overshadows mixed Australian employment data backed disappointment.

AUD/USD tracks commodities, stocks higher

Currently, the AUD/USD pair rises +0.19% to 7521, flirting with daily highs reached at 0.7526 some minutes ago. The Aussie stalled it downslide following the release of unimpressive Aus labor market report, as the bulls were rescued by fresh USD selling and risk-on market condition, well evidenced by rallying Asian equities and higher copper as well as oil prices.

The Australian jobs data showed that the employment change arrived at +13.5 K vs the expected +10.0K and against the prior +37.1K, revised from +39.1K. The Unemployment Rate came in as 5.8% vs the expected 5.7% and against the prior 5.7%. 

Next on tap for the major remains the US dataflow due on the cards later today, in the meantime markets will digest the hawkish comments from Fed’s Yellen, simultaneously keeping an eye on the broader market sentiment.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7570 (9-week tops) above which gains could be extended to the next hurdle located 0.7600 (round figure) and 0.7650 (psychological levels). On the flip side, the immediate support located 0.7506 (200-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7482 (100-DMA) and below that 0.7453 (daily S2).