Australian dollar falls after impoverished data NFP fuel risk aversion risk

The Australian dollar is weakened when disappointing data on work in the US increases risk moods.
The US NFP report appeared below forecasts, and wages have slowed down, increasing the fears of economic immunity.
Commercial data in China revealed weaker imports, strengthening the pressure on the Australian.
Technical indicators suggest increasing the risk of decline because Aud/USD is approaching key support levels.

The Australian dollar extended the losses on Friday compared to USD after issuing an American non -farmed report (NFP). The Aud/USD pair fought for recovery because the risk moods deteriorated when traders reacted to a weaker than expected raise in employment and more softer wages. Meanwhile, the data on China’s trade balance showed an unexpected drop in import, increasing the concerns about the slowdown of demand, which even more burdened with the Australian dollar.

Daily Digest Market Movers: Australian dollar under pressure after NFP Miss

The American payroll report showed that the creation of jobs slowed down in February, adding 151,000 modern jobs, without meeting 160,000 estimates. Although the improvement compared to 125,000 January, the weaker rate of employment aroused concerns about the resistance of the labor market.
The average raise in hourly profits has decreased to 0.3% MOM, compared to 0.4% in January, which strengthens the expectations that wage pressure may be cooling. Meanwhile, the US unemployment rate increased to 4.1%, signaling potential softening in working conditions.
In February, the trade surplus in China increased to $ 170.52 billion, exceeding the forecasts. However, a pointed drop in import by 8.4% aroused concerns about the weakening of domestic demand, which may negatively affect the export economy of Australia.
Reserve Bank of Australia (RBA) maintains cautious perspectives, expecting that economic growth was moderate to 2% to 2025. Although this position was supported by Aud in the past, investors become cautious in relation to possible changes in policy in response to inflation and conditions of the labor market.
Accommodated risk sentiments when investors again assessed the global development of trade. Canada delayed the planned second round of retaliation against the United States until April 2, after the exemptions granted to Mexican and Canadian goods on the basis of the USMCA agreement. This development only provided momentary relief with broader concerns about global trade tensions.

AUD/USD Technical analysis: Selling pressure installation as key support is similar

The Australian dollar expanded its decline on Friday, falling towards the region of 0.6290 during the American session as the sales pressure worsened. The couple did not maintain previous levels after the weaker than the expected US NFP report increased market caution, which prompted further downward traffic.

The average movable convergence (MacD) still prints the red histogram bars, signaling the weakness of the stubborn shoots. Meanwhile, the relative force indicator (RSI) dropped to 53, falling violently, but still above the neutral levels. If RSI is still sliding down, this may confirm the further inheritance risk.

A confirmed decrease below the 0.6300 support zone can open the door to further losses with the next key level of about 0.6270. On the other hand, the resistance remains at 0.6365 with a break above this level required to move the sentiment back towards the bulls.