Headline: AUD/USD Whipsaws on Strong Jobs Report, Finds Support at 100-Day Moving Average
The Australian dollar swung sharply after upbeat employment data, with AUD/USD breaking higher before easing as risk sentiment weakened. Despite the pullback, the pair held the 100-day moving average, keeping the near-term bullish bias alive in the forex market.
Australia’s latest labor report surprised to the upside. The unemployment rate eased to 4.3% versus 4.4% expected (4.5% prior), while total employment rose by 42.2k, more than double the consensus. The participation rate held at 67.0%. The composition was notably firm: full-time positions increased by 55.3k, offsetting a 13.1k decline in part-time roles, signaling underlying labor market resilience.
In price action, AUD/USD vaulted through the 50% retracement of the September decline near 0.6573 and printed a high around 0.6579 before momentum faded as global stocks turned lower. Crucially, the pair respected support at the 100-day moving average near 0.6539—a level that acted as resistance earlier in the week and now serves as a pivotal pivot. Holding above it keeps buyers engaged, with nearby resistance at 0.6562–0.6564 and the 0.6573/0.6580 zone overhead. A sustained break back below the 100-day average would shift focus to the rising 100-hour moving average near 0.6529 and the 200-hour moving average around 0.6516.
Key Points: – Australian unemployment rate fell to 4.3% vs 4.4% expected; prior was 4.5% – Employment rose by 42.2k, driven by a 55.3k gain in full-time jobs; part-time roles fell by 13.1k – AUD/USD spiked above the 50% retracement near 0.6573 before easing on risk-off sentiment – The 100-day moving average around 0.6539 held as support after acting as resistance earlier this week – Resistance sits near 0.6562–0.6564 and 0.6573/0.6580; support below lies at the 100-hour MA (~0.6529) and 200-hour MA (~0.6516)
