AUD/USD Tumbles Following US Jobs Report, RBA Decision Awaited

The AUD/USD plunged more than 0.90% on Friday after a robust US  report triggered a jump in US Treasury yields as investors disregarded a rate cut by the Federal Reserve in March. At the time of writing, the pair traders at 0.6511 Aussie Dolla falls on January’s NFP, traders eye RBA’s meetingThe latest US Nonfarm Payrolls report exceeded expectations, with the economy adding 353K jobs, far surpassing the forecasted 180K and outdoing the revised December figures of 333K, initially reported as 216K.  remained steady at 3.7%, unchanged from the previous month. Furthermore, Average Hourly Earnings (AHE) saw an increase, with the monthly AHE rising to 0.6% from 0.4% and the year-over-year rate climbing to 4.5% from 4.4%.Following this report, the yield on the US 10-year Treasury note rose from around 3.90% to 4.06%, gaining 15 basis points (bps). Additionally, the  Index (DXY), which measures the dollar’s strength against a basket of major currencies, rose to a seven-week high at 104.04 after the data.Further data was released, with Factory Orders for newly manufactured goods climbed modestly, while Consumer Sentiment by the University of Michigan improved to 79.1 in January.Next week, the Aussie’s economic calendar will feature the Reserve Bank of Australia (RBA) monetary policy decision, followed by RBA’s Governor Michele Bullock’s press conference. After that, the Aussie Dollar could gauge direction from the release of the AI Group Industry Index, Westpac Consumer Confidence, and NAB Business Confidence data. AUD/USD Price Analysis: Technical outlookAfter diving below the 200-day moving average (DMA), the AUD/USD has shifted neutral to downward biased, piercing on its way south of the 100-DMA at 0.6527. A daily close below those levels will expose the 0.6500 figure, followed by the psychological 0.6500 mark. On the other hand, if Aussie buyers regain the 100-DMA, the next resistance would be 0.6550, before the 200-DMA.(Click on image to enlarge)AUD/USD

OVERVIEW Today last price 0.6515 Today Daily Change -0.0058 Today Daily Change % -0.88 Today daily open 0.6573

 

TRENDS Daily SMA20 0.6619 Daily SMA50 0.6663 Daily SMA100 0.6534 Daily SMA200 0.6577

 

LEVELS Previous Daily High 0.6579 Previous Daily Low 0.6508 Previous Weekly High 0.6621 Previous Weekly Low 0.6552 Previous Monthly High 0.6839 Previous Monthly Low 0.6525 Daily Fibonacci 38.2% 0.6552 Daily Fibonacci 61.8% 0.6535 Daily Pivot Point S1 0.6528 Daily Pivot Point S2 0.6483 Daily Pivot Point S3 0.6457 Daily Pivot Point R1 0.6599 Daily Pivot Point R2 0.6624 Daily Pivot Point R3 0.667

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