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Australian unemployment report does the AUD/USD few favours
The Australian dollar has been falling under the sword of the stronger dollar since the outcome of the US election and yesterday that saw the AUD/USD fall below 0.6500 for the since August 6. The AUD/USD closed in the US last night at 0.6485. It has fallen back a bit more so far today too and one reason for that was the rather disappointing Australian payroll report released earlier. Payrolls were forecast to rise by around 25k last month. They actually fell by 15.9k. The low seen so far today has been set at 0.6460 and that is getting closer to a major long-term trend line support level, which is in place today, at 0.6375. That looks like the line in the sand for the Aussie right now and it could be put to the test at some point in the near future. We shall see on that. The AUD/USD is currently trading at 0.6464
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