FXStreet (Córdoba) – AUD/USD fell sharply as the dollar strengthened broadly following the release of better-than-expected US nonfarm payrolls data.
The US economy created 280,000 jobs in May, following 221,000 in April and 225,000 expected by analysts. However, the unemployment rate edged higher to 5.5% from 5.4% the previous month.
AUD/USD fell nearly 100 pips within the last minutes and touched a low of 0.7629, erasing completely weekly gains. At time of writing, the Aussie is trading at 0.7635, 0.69% below its opening price.
On the downside, immediate supports are seen at 0.7598 (Jun 1 low) and 0.7570 (Apr 15 low). On the upside, resistances could be found at 0.7729 (daily high) and 0.7785 (Jun 4 high).
(Market News Provided by FXstreet)