AUD/USD bulls not done despite jobs miss

By FXStreet AUD/USD has been a mixed show on the back of the jobs data and a big miss on the headline again. However, the bulls were not phased right away and bids came in that have been met by cautious offers given the dovish FOMC vibes lingering around markets.

Fed keeps rates unchanged as expected, lowers rate hike expectations

AUD/USD rallied in the US session after the FOMC outcome that was surprisingly dovish on global economic concerns forcing even the most hawkish members to scale back their optimism and outlook along the dot plot that has been reduced to just two rate hikes this year of 0.5% by the end of 2016. Meanwhile, Australia added 300 jobs in February vs 13,500 expected, which is another big miss.

Australian Feb employment report: Total jobs disappoint, full time bright spot

AUD/USD levels

Technically, the bid through the 200 and 100 sma on the 0.74 handle resulted in stops taking us through the 4hr 20 sma at 0.7501 and some more to the highs of 0.7585 today in Asia. The 0.7600 level is a big level and on this report it looks like we are not going to see anything more towards there for the time …read more

Source:: FX Street