AUD/USD recedes further to test 0.7600, Aus jobs weigh

The AUD/USD pair extended its retreat from daily tops and tested 0.76 handle, as mixed Australian jobs data continue to weigh on the sentiment around the AUD.

AUD/USD fails to hold above daily R1

Currently, the AUD/USD pair turns negative near 0.7609 levels, moving away from 0.7639 highs. The Aussie remains under pressure as somewhat upbeat Australian labour market report failed to impress the bulls, having faced fresh offers near 0.7640 region.

The employment change came slightly below expectation at 7.9k vs 10k exp and 17.9k prior, full time jobs saw an increase of 38.4k vs 0 prior, while part time jobs came at -30.5k vs 17.9k last. The participation rate stood at 64.9% vs 64.8%, while the unemployment rate was 5.8 vs 5.7% last.

Looking ahead, the major looks vulnerable as the US dollar selling stalls versus its six major peers and could weigh further on the Aussie pair ahead of the US PPI and jobless claims data due later in the NA session. While the Chinese GDP report due tomorrow will be also closely eyed for next direction on the prices.

AUD/USD Levels to watch   

The pair finds the immediate resistance at 0.7653/58 (Jun 24 & Jul 3 High) above which gains could be extended to the next hurdle located at 0.7700 (round number). On the flip side, the immediate support located at 0.7581 (5-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7548 (10-DMA).