AUD/USD: The Australian dollar rose to a 2-week peak after data showed domestic jobs growth surpassed all expectations in January as firms took on more full-time staff while the jobless rate stayed at its lowest in seven years. However, the major turned lower after Westpac Banking Corp projected cuts in the official cash rate later this year, citing slowing economic growth and lukewarm inflation. The Aussie trades 0.9 percent down at 0.7095, having hit a high of 0.7206 earlier; it’s highest since February 6. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.7124 (Feb.18 Low), a break below targets 0.7089 (Feb. 7 Low). On the upside, resistance is located at 0.7235 (January 11 High), a break above could take it near 0.7264 (Feb. 5 High).
AUD/USD daily chart
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