AUDCAD Dip on Weaker Aussie Jobs — Watching for Re-entry Levels

The latest Australian jobs report came in softer than expected, pushing $AUDCAD lower to its current 0.97786. It's not a catastrophic miss, but it's enough to give the RBA more breathing room on rates, or at least solidify the current 'hold' stance for longer than some were anticipating. We saw a quick dip this morning hitting as low as 0.97595 at one point, which is interesting.

I’ve been watching the Aussie closely for a while, and this move, while expected by some of the more dovish analysts, does impact my short-term watchlist. I was leaning towards a long $AUDCAD entry around the 0.9750-0.9760 zone if we saw some consolidation there after this news, but the rebound has been fairly quick. I’ll be observing how it performs around the 0.9780-0.9790 level throughout the day. If we can hold above that, it might suggest the initial knee-jerk reaction has faded, and the longer-term bullish thesis for the pair could still be intact, albeit with some increased volatility. Will keep an eye on upcoming CAD data for any counter-moves too.