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Australia's employment figures for September revealed a decline of 39,300 jobs, contrasting sharply with expectations of a 20,000 increase. The unemployment rate rose to 4.7%, slightly above the anticipated 4.6%. While full-time employment saw an increase of 34,400 positions, part-time employment fell significantly by 73,700. The participation rate also dipped to 66.8%, indicating fewer individuals were either employed or actively seeking work, which may not fully reflect the underlying weakness in the job market.
The disappointing jobs report has provided the Reserve Bank of Australia (RBA) with more leeway to maintain its current monetary policy stance. Following the release of the data, the Australian Dollar (AUD) experienced a decline against the US Dollar (USD), with technical analysis indicating that sellers have gained control of the market. Key technical levels were breached, including a significant drop below the 0.69620–0.69778 range, which has increased bearish sentiment among traders.
Looking ahead, the next support levels for the AUDUSD pair are identified between 0.68321 and 0.68632. This zone includes the 50% midpoint of the recent upward movement from the November 2025 low, which is critical for determining future price action. For sellers to maintain their momentum, they must keep the price below the recently broken swing areas and target the next downside objectives. A recovery above the 0.69205 level would signal a potential shift in market dynamics, favoring buyers.
Source: KLEA News