• March employment figures revealed 32,XRP ETF Vanguard200 new jobs created, falling short of the anticipated 40,000 positions economists had projected.

• The unemployment rate climbed to 4.1%, though this was marginally better than the 4.2% forecast by market participants.

• These employment indicators suggest potential softening in Australia's labor market, which could influence future Reserve Bank policy decisions.

The Australian currency extended its losses against the greenback, breaking a six-session winning streak after the latest employment statistics showed weaker-than-expected job creation. Market analysts noted that while the unemployment rate increase was slightly less severe than predicted, the overall employment picture points to moderating economic conditions.

Global risk appetite received a temporary boost from trade policy developments, as exemptions were announced for certain technology products from proposed tariffs. This development particularly benefits China, Australia's primary trading partner and major consumer of its commodity exports. However, lingering uncertainty about broader US trade policy continues to weigh on market sentiment.

Domestically, the Reserve Bank's recent meeting minutes revealed ongoing uncertainty about the timing of future rate adjustments. While some market participants anticipate potential easing at the May meeting, the central bank has maintained a cautious stance, with no definitive commitment to immediate policy changes.

US economic resilience supports dollar strength

• March retail sales in the United States expanded by 1.4%, exceeding expectations and demonstrating continued consumer spending momentum.

• Inflation metrics showed moderation, with headline CPI easing to 2.4% annually, while core inflation measures also displayed signs of cooling.

• Federal Reserve officials continue to emphasize the need for patience in achieving inflation targets, tempering expectations for aggressive rate cuts.

The greenback found support from robust economic indicators, particularly the stronger-than-anticipated retail sales figures. This data point suggests American consumers remain resilient despite various economic headwinds, providing fundamental support for the US currency.

Inflation dynamics continue to evolve, with both headline and core measures showing moderation in March. However, Federal Reserve policymakers maintain that achieving the central bank's 2% target will require sustained effort, potentially limiting the scope for near-term monetary easing.

Technical outlook for AUD/USD

The currency pair currently tests important technical levels, with immediate support seen around the 0.6350 area. Daily chart analysis reveals the pair maintaining position above key moving averages, while momentum indicators suggest the broader uptrend remains intact despite recent weakness.

Market technicians identify several critical levels to watch. Resistance appears near the psychological 0.6400 mark, with stronger resistance at the February peak of 0.6408. Conversely, a break below current support could open the door for further downside toward the 0.6285 region, where the nine-day moving average currently resides.

The technical landscape suggests traders should monitor these key levels closely, as breaks in either direction could signal the next meaningful move for the currency pair. The broader trend remains constructive, but recent fundamental developments warrant caution for AUD bulls.