- Aussie plunged after data showed the Australia full-time jobs tanked in September, reigniting bets for further RBA easing.
- Data released earlier today showed that Australia's September employment report came at -9.8k vs 15k expected and -3.9k last.
- Full-time job creation stood at -53k, overshadowing the positive part time jobs number of 43.3k.
- The pair ended six-day winning streak and dived sharply into negative territory after dismal jobs data.
- Techs on intraday charts have turned bearish, we see scope for further downside.
- The pair has broken major trendline resistance at 0.77, scope for test of 0.7627.
- Major support levels - 0.7658 (5-DMA), 0.7628 (20-DMA), 0.76, 0.7581 (Oct 17 low)
- Major resistance levels - 0.77 (trendline), 0.7760 (Aug 11 high), 0.78, 0.7835 (Apr 21 high)
Recommendation: Good to go short on rallies around 0.7670/80, SL: 0.7740, TP: 0.7630/ 0.76/ 0.7580