AUD/USD: The Australia dollar plunged to a 4-1/2 month low after data showed domestic unemployment rate rose to the highest in eight months while full-time jobs fell, cementing views that the Reserve Bank of Australia may be forced to lower rates soon to stimulate the economy. The Aussie trades 0.2 percent down at 0.6913, having hit a low of 0.6892, it’s lowest since Jan. 3. Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6870, a break below targets 0.6845. On the upside, resistance is located at 0.6961 (Apr. 30 High), a break above could take it near 0.7002 (May 6 High).
Support levels – 0.6890 (trendline), 0.6862 (78.6% Fib), 0.68 (88.6% Fib)
Resistance levels – 0.6945 (5-DMA), 0.7008 (21-EMA), 0.7062 (55-EMA)
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