AUD/USD plunges despite better-than-expected jobs data. Aussie remains dominated by a stronger dollar amid Fed’s tapering talks. Delta variant has been at its worse in Australia, providing no breather to the Aussie. The AUD/USD daily forecast suggests a bearish continuation that cracked the 0.7200 level. The weakness stems from the hawkish Fed’s meeting minutes. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- In the wake of the better-than-expected jobs report, the Australian dollar found some support. Markets were expecting Australia’s unemployment rate to rise to 5% from 4.6% earlier this year. However, the AUD/USD pair failed to prevail due to the dollar’s growth dominating markets. Australia’s weak economy, disappointing building permits, and pressure from retail sales are the reasons behind the high unemployment rate today. Although the CPI heading is above RBA’s target range, a truncated average of CPI is shown at the bottom. While the magnitude of Delta’s victory is uncertain, the central bank will be given time to pursue its free policy. The RBA noted in its most recent meeting minutes that the Delta variant will impact the September quarter. It is possible that the July data did not include all the effects of lockdown. Fed meeting minutes In its July meeting minutes, the Federal Reserve raised expectations for the fourth quarter this year while reinforcing the recent trend of the US dollar rising against its major counterparts. Get FREE Forex Signals Now! COVID fears in Australia Bloomberg reports that 681 new cases have been reported in New South Wales, New South Wales, during the Delta outbreak in Australia. This is Melbourne’s sixth isolation since the pandemic began. Coupled with vivid tremors, a robust dollar will continue to confound Australian dollar buyers as they prepare to test their resilience ahead of weekly US jobless claims. AUD/USD technical forecast: Upthrust bar pointing at losses AUD/USD 4-hour chart forecast The AUD/USD price remains strongly dominated by the bears. The 4-hour chart shows a hidden upthrust bar followed by an upthrust bar with a high volume. The price posted losses of 35 pips after it. The pair have done 88% of its average daily range in the Asian session. It indicates that we can see a rebound in the European session, provided we see a retracement in the US dollar. –Are you interested to learn more about forex signals? Check our detailed guide- The price is far below the key moving averages. The volume data provides no breather, too, while the 0.7250 level will now act as a strong resistance. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal AUD/USD Daily Outlooks share Read Next GBP/USD Outlook: Bears to Takeout 1.37 as USD Strengthens after Fed Saqib Iqbal 1 year AUD/USD plunges despite better-than-expected jobs data. Aussie remains dominated by a stronger dollar amid Fed's tapering talks. Delta variant has been at its worse in Australia, providing no breather to the Aussie. The AUD/USD daily forecast suggests a bearish continuation that cracked the 0.7200 level. The weakness stems from the hawkish Fed's meeting minutes. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- In the wake of the better-than-expected jobs report, the Australian dollar found some support. Markets were expecting Australia's unemployment rate to rise to 5% from 4.6% earlier this year. However, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.