Forex: AUS/USD tests 1.0500 level after NFP

FXstreet.com (San Francisco) - The Aussie has tested the 1.0500 level against the US Dollar after the US July employment report that has posted a better than expected NonFarm Payrrols with an increase of 163K.

The first reaction in the pair has been bearish to trade at 1.0495 but right now the AUDUSD is back above 1.0500. The Aussie is currently trading at 1.0515 and rising 0.50% so far today from opening price action.