The AUD/USD pair ticks higher to near 0.6440 but remains trades inside Wednesday’s trading range in North American trading hours on Thursday. The Aussie pair gains slightly as the United States (US) Initial Jobless Claims data for the week ending November 29 remained higher than expected. The data showed that individuals claiming jobless benefits were 224K, higher than estimates and the prior release of 215K.The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, slides below 106.00. The next move in the US Dollar will be projected the US Nonfarm Payrolls (NFP) data for November, which will be released on Friday.Investors will pay close attention to the US official labor market data to get fresh cues about whether the Fed will cut interest rates again in its policy meeting on December 18. The Fed started its policy-easing cycle in September as officials were worried about deteriorating labor demand but were confident about inflation remaining on a sustainable path towards the bank’s target of 2%.According to the CME FedWatch tool, there is a 77% chance that the Fed will reduce interest rates by 25 bps to 4.25%-4.50%, while the rest support leaving them unchanged.The US NFP report is expected to show that the economy added 200K jobs. Economists estimate the Unemployment Rate to have accelerated to 4.2% from the former reading of 4.1%.Meanwhile, the outlook of the Australian Dollar (AUD) has weakened as the Reserve Bank of Australia (RBA) is expected to start reducing interest rates from the April meeting next year. RBA dovish bets were bolstered by weak Australian Q3 Gross Domestic Product (GDP) data.The near-term trend of the AUD/USD pair is bearish as the 20-day Exponential Moving Average (EMA), which trades around 0.6500 is declining.The 14-day Relative Strength Index (RSI) slides below 40.00, suggesting a strong bearish momentum.More downside towards the August low of 0.6348 and the round-level support of 0.6300 would appear if the Aussie breaks below Wednesday’s low of 0.6400.On the flip side, a decisive recovery above the November 25 high of 0.6550 will drive the asset towards the round-level resistance of 0.6600, followed by the September 11 low of 0.6622.
 AUD/USD daily chart More By This Author:Pound Sterling Gains As BoE Bailey Sticks To Gradual Easing Approach EUR/GBP Stays Vulnerable Below 0.8300 As French Government Sets To Dissolve AUD/USD Plunges To Near 0.6400 As Weak Aussie GDP Boosts RBA Dovish Bets