• The Australian dollar plunged to a near 11-year trough as data showing a surprisingly sharp rise in unemployment added to the case for further cuts in interest rates.
   
• Australia's unemployment rose to 5.3 percent in January, from 5.1 percent the month before, overshadowing a 13,500 increase in net employment and a jump of 46,200 in full-time workers. 
   
• The Reserve Bank of Australia has repeatedly said it would reconsider cutting rates again if the jobless rate trend higher in a significant way, although it would much prefer a period of stable policy.
   
• The Aussie was trading 0.7 percent down at 0.6630, having hit a low of 0.6629 earlier, its lowest since March 2009. 
   
• Technical indicators are bearish: RSI weak at 27, Stochs are at oversold levels and MACD supports downside.
   
• Immediate resistance is located at 0.6701 (61.8% retracement of 0.6750 and 0.6630), a break above could take it near 0.6721 (78.6% retracement). 
   
• On the downside, support is seen at 0.6600, a break below could drag it till 0.6585.