The unemployment rate in the U.S. remains steady at 3.7%. Nonfarm payrolls rises more than expected in October. Greenback recovers daily losses on the back of the data. After touching its highest level in six weeks at 0.7260 earlier in the day, the AUD/USD pair reversed its course and gave back the majority of its daily gains. As of writing, the pair was trading at 0.7215, adding 0.12% on the day. Today’s data from the U.S. showed that the total nonfarm payroll employment rose by 250,000 in October to beat the market expectation of 190,000. Additionally, average hourly earnings rose 3.1% on a yearly basis in October to hint at higher wage inflation. Although the September data got revised down to 118,000 from 134,000, the market reaction helped the greenback gather strength against its rivals. At the moment, the US Dollar Index is virtually unchanged on a daily basis at 96.30. Nevertheless, TD Securities analysts note that investors are likely to stay on the sidelines ahead of the critical mid-term elections in the U.S. “The data offers a boost to the USD, though we think markets will be cautious to push this narrative with positioning stretched and event risk related to the US mid-terms next week.” There won’t be any other macroeconomic data releases in the remainder of the day and the pair could extend its sideways move above the 0.72 mark. Technical levels to consider The initial resistance for the pair aligns at 0.7245 (100-DMA) ahead of 0.7315 (Sep. 26 high) and 0.7360 (Aug. 28 high). On the downside, supports could be seen at 0.7200 (psychological level/daily low), 0.7145 (50-DMA) and 0.7110 (20-DMA). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD Technical Analysis: Cable bulls taking a well-deserved breather after 350-pip bull-run as NFP boosts USD FX Street 4 years The unemployment rate in the U.S. remains steady at 3.7%. Nonfarm payrolls rises more than expected in October. Greenback recovers daily losses on the back of the data. After touching its highest level in six weeks at 0.7260 earlier in the day, the AUD/USD pair reversed its course and gave back the majority of its daily gains. As of writing, the pair was trading at 0.7215, adding 0.12% on the day. Today's data from the U.S. showed that the total nonfarm payroll employment rose by 250,000 in October to beat the market expectation of 190,000. Additionally, average hourly earnings rose… 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.