The Australian dollar struggles as jobs data suggest fewer people looking for work amid lockdowns.

The pair is heading towards 77.50 as momentum traders took over control of price action.

The divergence between the 20 and 30-hour moving averages suggests an increase in the sell-off. Sentiment would stay downbeat as long as the Aussie is below the averages.

Though a limited bounce is likely to let the RSI return to the neutrality area. The bears would be eager to add stakes near the resistance at 79.50.