The AUD/USD pair managed to rebound around 40 pips from daily swing lows and was last seen trading in the neutral territory, around the 0.6875 regions.
The pair witnessed some selling during the Asian session on Thursday following the release of weaker-than-expected Australian monthly employment details. According to the report, the economy shed 227.7K jobs in May as compared to a decline of 125K anticipated. Adding to this, the previous month’s reading was also to show a loss of 607.4K loss against 594.3K reported previously. Meanwhile, the unemployment rate jumped from April’s 6.2% to 7.1% during the reported month.
The dismal jobs data comes on the back of the unease across the global financial markets amid concerns over the second wave of coronavirus infections and geopolitical tensions in Asia. This, in turn, took its toll on perceived riskier currencies, including the Aussie, and prompted some intraday selling around the AUD/USD pair. However, a mildly weaker tone surrounding the US dollar helped limit any deeper losses for the major, at least for the time being.
AUD/USD SHORT (Sell)
ENTER AT: 0.68970