AUD/USD back and forth after US jobs report

AUD/USD saw a quick, short-lived slump immediately after the release of better-than-expected US nonfarm payrolls report.

AUD/USD fell sharply and bottomed out at 0.7617 as the greenback strengthened across the board, although the Aussie managed to climb back to pre-data levels soon after. At time of writing, AUD/USD is trading at 0.7647, 0.27% above its opening price.

US nonfarm payrolls report showed a 255,000 job gain in July, versus 180,000 expected but down from June’s upwardly revised 292,000. The unemployment rate stood at 4.9% versus 4.8% expected.

AUD/USD levels to consider

In terms of technical levels, next resistances could be found at 0.7675 (Jul 15 high) and 0.7700 (psychological level). On the other hand, supports are seen at 0.7613 (Aug 5 low), 0.7567 (Aug 3low) and 0.7555 (10-day SMA).