Australia Employment Change & Unemployment Rate
Today Australia released Job results at 0130 GMT/0700 IST with positive numbers. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
Let’s take a look on AUD’s movement against U.S. dollar after data release:
As per the data, rising employment change and falling unemployment rate leads to stronger AUD. But today after the data release, AUD depreciates and touches $0.7708 mark in early Asian hours. The pair made intraday high at $0.7745 and low at $0.7708 mark. A sustained close above $0.7740 on H1 chart requires for the upside rally. Alternatively, current downside movement will drag the parity down below $0.77 mark.
Key Resistances: $0.7740, $0.7770, $0.7790, $0.7812, $0.7850
Key Supports: $0.7702, $0.7677, $0.7638, $0.7602, $0.7580
Take a look and do trade wisely!