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    AUD/USD tests post-FOMC highs and retreats on Aus jobs Dhwani Mehta

    The AUD/USD pair caught a fresh bid wave and jolted higher following the release of Australian jobs report, with the headlines numbers bettering expectations.AUD/USD back around 100-DMA at 0.7423Currently, the AUD/USD pair trades 0.15% higher at 0.7421, quickly retreating from fresh session highs printed at 0.7439 last minutes. The Aussie witnessed a 25-pips spike in a knee-jerk reaction to a slightly upbeat Aus employment data, although receded gains as markets remained disappointed by a weaker participation rate.The headline employment change stood at 17.9k vs 15k exp and 10.8k prior, with full time job creation flat at 0, while part time jobs came at 17.9k. However, the participation rate fell short of expectations and decreased to 64.8%, while the unemployment rate steadied at 5.7%.Moreover, a broadly weaker US dollar in response to a more dovish FOMC statement released late-Wednesday, also keeps the bids intact for the AUD/USD pair. With the FOMC decision and Aus jobs report out of the way, focus now shifts towards the US CPI due for release later today.AUD/USD Levels to watch    The pair finds the immediate resistance at 0.7439/46 (daily high/ June 15 high) above which gains could be extended to the next hurdle located at 0.7500 (round number). On the flip side, the immediate support located at 0.7400 (round number/ 50-DMA). Selling pressure is likely to intensify below the last, dragging the Aussie 0.7323 (20-DMA).


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