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AUD/USD slumps after US jobs data

FXStreet (Córdoba) - AUD/USD extended its decline and fell sharply following the release of better-than-expected US nonfarm payrolls data.

The US economy added 248,000 new jobs in September versus a revised gain of 180,000 in August and beating expectations of 215,000. Meanwhile, the unemployment rate unexpectedly dropped to 5.9% versus 6.1% anticipated.

AUD/USD fell to a low of 0.8699 but found support and bounced to currently trade around 0.8715, 0.99% below its opening price and down from 0.8760 pre data.

AUD/USD technical levels

In terms of technical levels, AUD/USD could find immediate supports at 0.8700 (psychological level) and 0.8663/59 (Oct 1 low/Jan 24 low). On the flip side, resistances are seen at 0.8826 (Oct 2 high), 0.8837 (23.6% Fibo of 0.9401-0.8663) and 0.8885 (Sept 25 high).

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