AUD/USD: The Australian dollar slumped to a 2-week low, as a mixed set of domestic jobs data supported the case of RBA rate cut as soon as July. The economy’s May labour report showed unemployment stayed at 5.2 percent, against expectations for a dip back to 5.1 percent. The Aussie trades 0.2 percent down at 0.6912, having hit a high of 0.7022 on Friday, it’s highest since May 8.
Investors will continue to track overall market sentiment, ahead of U.S. economic releases. Immediate support is seen at 0.6881 (May 24 Low), a break below targets 0.6867 (May 17 Low). On the upside, resistance is located at 0.6959 (May 14 High), a break above could take it near 0.7029 (May 2 High).
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