Australia’s Job Data, Chance to Grab 35+ PIP Movement in AUD Parity; Nov 18, 2020

Australia Employment Change and Unemployment Rate

Australia has scheduled to release job data at 0030 GMT/0600 IST (Nov 19, 2020). 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 see how AUD has reacted during the previous data release:

Oct 15:

Sept 17:

Technical View:

AUD/USD: The Aussie recovers previous losses against U.S. dollar and jumps back above $0.73 mark. The pair made intraday high at $0.7328 and low at $0.7272 marks. On the top side key resistances are seen at $0.7347, $0.7376, $0.74 and $0.7426 mark respectively. On the other hand, a consistent close below $0.7298 will take the parity down towards key supports around $0.7270, $0.7220, $0.7190, $0.7170, $0.7122, $0.7090 and $0.7052 mark respectively.

Take a look and do trade wisely!
Good Luck

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