AUD/USD consolidating the downside post-Aus jobs

The AUD/USD pair moved-off lows and now strives hard to take on the recovery back towards daily highs reached previously at 0.7485.

AUD/USD holds well above 200-DMA at 0.7429

Currently, the AUD/USD pair now trades -0.13% lower at 0.7461, having stalled its recent sell-off at 0.7447. The Aussie is seen consolidating the downside, after having dropped on disappointing Australian employment data released earlier on the day.

Australia employment change came in at -3.9k in August, below forecasts of +15k and prior of 26.1k,  while part-time employment -15.4k from previous 71.6k.

However, the losses remain capped amid subdued trading activity behind the greenback against its major peers, while higher oil and copper prices also offer some support to the resource-linked Aussie.

Looking ahead, the major is expected to remain pressured as persistent risk-off sentiment will continue to weigh on the risk currency AUD. While all eyes now remain on the US dataflow for fresh incentives.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7500/02 (100 & 5-DMA) above which gains could be extended to the next hurdle located at 0.7563/64 (20 & 10-DMA). On the flip side, the immediate support located at 0.7427 (200-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7400/0.7394 (round figure/ daily S3).