AUD/USD rebounds from weekly lows back to 0.6670 after US jobs report

US Nonfarm Payrolls rise by 236K in March, near consensus.
US Unemployment Rate drops to 3.5%; Labor Participation Force rises to 62.6%.
US Dollar rises after the report, but fails to hold to most gains.

Matías Salord FXStreet

After the release of the March US employment report the US Dollar rose across the board, sending AUD/USD to 0.6639, the lowest level since March 27. The move was short-lived, and the pair is moving back toward where it was before the report near 0.6675. Overall, the reaction has been limited amid tight volume.

A not negative jobs report

The US Labor Department's jobs report showed Nonfarm Payrolls increased by 236K in March, near the 240K of markets consensus. The Unemployment Rate fell from 3.6% to 3.5%. Average hourly earnings rose by 0.3% MoM, matching consensus.

Numbers did not show a negative surprise which was somewhat likely considering the latest economic reports that pointed to a softer labor market. March's NFP showed a slowdown in the pace of hiring, but still solid numbers.

It is a quiet session, with many markets closed due to Good Friday. The reaction has been limited. US yields spike higher but then pulled back a bit. The US 10-year climbed to 3.38% and then pulled back to 3.34%, while the 2-year stands at 3.92%. Higher Treasury yields boosted the US Dollar. The DXY is above 102.00, while Wall Street futures are in positive ground.

The AUD/USD is hovering around 0.6670, about to end the week, and also unchanged for Friday after recovering from NFP losses.

Technical levels

EUR/USD

Overview
Today last price	1.0895
Today Daily Change	-0.0028
Today Daily Change %	-0.26
Today daily open	1.0923

Trends
Daily SMA20	1.079
Daily SMA50	1.0734
Daily SMA100	1.0674
Daily SMA200	1.035

Levels
Previous Daily High	1.0938
Previous Daily Low	1.0884
Previous Weekly High	1.0926
Previous Weekly Low	1.0745
Previous Monthly High	1.093
Previous Monthly Low	1.0516
Daily Fibonacci 38.2%	1.0917
Daily Fibonacci 61.8%	1.0905
Daily Pivot Point S1	1.0892
Daily Pivot Point S2	1.0862
Daily Pivot Point S3	1.0839
Daily Pivot Point R1	1.0946
Daily Pivot Point R2	1.0968
Daily Pivot Point R3	1.0999

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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