AUD/USD reverses course, jumps to 0.7455 on strong Aussie labor data

A big beat on the Aussie employment figures is working wonders for the Aussie. The AUD/USD pair jumped from the session low of 0.7408 to a session high of 0.7455.

Muted reaction in the Aussie 10-year yield

So far, the benchmark Aussie 10-year yield has not had much luck. The yield traded at 2.485% prior to data release and has only managed to add one basis point on strong labor market data.

The muted reaction in the Aussie bond yield may temper gains in the AUD. Meanwhile, the US side of the story remains weak on account of the heightened political tensions.

AUD/USD Technical Levels

The spot was last seen trading just below 0.7450 levels. Multiple resistance levels are seen in the range of 0.7440-0.7455 (Apr 27 low + descending trend line resistance + 50% Fib R of 0.7160-0.7749). A convincing break higher would expose 0.7473 (Apr 12 low) and 0.75 (zero levels).

On the lower side, breach of support at 0.7385 (61.8% Fib R of 0.7160-0.7749) would open doors for a sell-off to 0.7328 (May 9 low) and 0.73 (zero figure).

The daily RSI remains below 50.00 levels.