AUD/USD prints session high above 200-day MA as Aussie full time jobs surge

AUD/USD has hit session highs above the 200-day MA at 0.7194 in response to big beat on the Aussie jobs figure.
Australia’s jobless rate ticked higher to 5 percent in March.
The currency pair needs to clear the 200-day MA hurdle for stronger gains.

Omkar Godbole FXStreet Contributor

The Aussie dollar is pushing higher against the greenback as the Australia Bureau of Statistics data released a few minutes before press time showed the labor market conditions remained strong in March.

Australia’s economy added 25,700 jobs in March, beating the expected print of 12,000 by a big margin. The economy had added 5,000 jobs in February. Despite the job gains, the jobless rate ticked higher to 5 percent from 4.9 percent as expected.

Notably, the full-time jobs surged by 48,300 in March, having dropped by 7,300 in February.

The fresh evidence of sustained labor market strength is boding well for the Aussie dollar. The AUD/USD pair is currently trading at 0.7188, having hit a high of 0.7197 immediately post-jobs data release at 02:00 GMT.

Technically speaking, the currency pair needs to find acceptance above the 200-day moving average (MA), currently at 0.7194. That could invite stronger buying pressure, leading to re-test of year-to-date highs near 0.72. The move above the key average could happen today, as upbeat jobs report will likely weaken RBA easing bets.

Technical Levels

AUD/USD

Overview
Today last price	0.7188
Today Daily Change	-0.0010
Today Daily Change %	-0.14
Today daily open	0.7179

Trends
Daily SMA20	0.7122
Daily SMA50	0.7109
Daily SMA100	0.7137
Daily SMA200	0.7191

Levels
Previous Daily High	0.7206
Previous Daily Low	0.7153
Previous Weekly High	0.7193
Previous Weekly Low	0.7087
Previous Monthly High	0.7168
Previous Monthly Low	0.7002
Daily Fibonacci 38.2%	0.7186
Daily Fibonacci 61.8%	0.7173
Daily Pivot Point S1	0.7152
Daily Pivot Point S2	0.7126
Daily Pivot Point S3	0.7099
Daily Pivot Point R1	0.7206
Daily Pivot Point R2	0.7233
Daily Pivot Point R3	0.7259

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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