**AUD/USD Struggles to Find Footing as Multiple Headwinds Persist; Key US Jobs Data Awaited**

The Australian Dollar continues its downward pressure against the US Dollar, extending losses into a fourth consecutive trading session. The pair hovers near 0.6630, reflecting weakness that translates to roughly 6,630 USD when converting 1,000 AUD at current rates—a meaningful dip from stronger levels.

**What's Dragging the AUD Lower**

Several interconnected factors have combined to pressure the currency. The latest Australian employment report disappointed expectations last week, failing to provide the robust support traders sought. Simultaneously, fresh economic data from China has reignited fears about slowdown in the world's second-largest economy, triggering a broader risk-off sentiment across global markets. When equity markets falter and economic concerns mount, investors typically shun higher-yielding currencies like the AUD, seeking the safety of the US Dollar instead.

**Support Remains from Rate Differential Expectations**

Yet the AUD's decline faces natural limits thanks to the Reserve Bank of Australia's firm policy stance. RBA Governor Michele Bullock signaled last week that additional rate cuts appear unnecessary and even hinted the central bank might consider tightening if economic conditions warrant it. This hawkish messaging contrasts sharply with market expectations for Fed rate cuts, creating support for the AUD.

Adding to this dynamic, the US Dollar itself is retreating to levels not seen since early October. The Federal Reserve faces mounting pressure to cut rates further, while speculation about a dovish successor to Fed Chair Jerome Powell has weighed on the Greenback. These cross-currents mean traders are hesitant to commit to aggressive directional moves.

**Waiting for the NFP Report**

Market participants appear cautious ahead of this week's critical economic calendar, particularly the delayed October Nonfarm Payrolls report. Such major data releases could provide the catalyst needed to confirm whether the AUD/USD three-week uptrend has truly exhausted itself or remains poised for continuation. Until then, meaningful follow-through selling appears necessary to signal a genuine reversal.