FOREX: AUDUSD Testing Trendline Support, Aug Jobs Data Thursday

* The significant move higher for US yields and the less optimistic price action for the major equity benchmarks has further boosted dollar Wednesday, while weighing substantially on the likes of AUD and NZD, which underperform their G10 peers, and the EM FX basket. * We flagged that Kiwi had remained vulnerable even after RBNZ Governor Breman's boost yesterday, and NZDUSD has slipped to a fresh pullback low once again today. This extends the selloff from the August highs to around 5.3%, and spot now resides within 50pips of the year's lows, located at 0.5626. * However, it's Aussie that sits at the bottom of the G10 FX leaderboard today, as AUDUSD plummets 1.15% to trade at 0.7035 at typing. Spot is currently testing an important support trendline, drawn from the November2025 lows, of which clearance would bolster the likelihood of a more protracted selloff towards 0.6922 and 0.6865 next. * This provides an interesting backdrop ahead of the August labour market report in Australia, the highlight of the APAC calendar tomorrow. As a reminder, earlier in the week RBA chief Michele Bullock said a higher unemployment rate would help loosen the labour market and ease inflationary pressu