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Forex: AUD/USD bounces off lows, around 1.0335/40

The Aussie dollar has recovered from session lows after better-than-expected figures out of the labour market, as the jobless rate remained at 5.4% and the Employment Change added 5.4K jobs during January.

“Employment trends will be the main ‘hard data’ driver of the RBA this year and, I think, the AU$ will be another important element on their radar as a weaker currency would help stimulate some trade-exposed sectors of the economy, such as tourism, education and manufacturing”, assessed Adrian Foster, analyst at Rabobank.

At the moment, AUD/USD is up 0.13% at 1.0333 with the next resistance at 1.0345 (low December) ahead of 1.0475 (high Jan.30) and then 1.0486 (low Jan.18).
On the downside, a dip below 1.0311 (MA200d) would open the door to 1.0288 (low November) and finally 1.0237 (low Oct.23).

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