AUD/USD: weak stats pushed Aussie down

November 6, 2013

Current trend

Today statistics on the Australian labour market has been released. The data was below the forecast. Unemployment rate remained at the previous level of 5.7%, while number of new jobs in October was 1100 against expected 10 000. Revised data on the same indices for September showed that unemployment rate increased by 0.1%, while number of new jobs amounted to 3300 instead of 9100. These factors had a negative impact on the Australian dollar and the AUD/USD rate fell to the level of 0.9470.

Support and resistance

The nearest support level is 0.9440; next support levels are 0.9400 and 0.9370. Resistance levels: 0.9480, 0.9450 and 0.9525, the latter one is the main target for the “bears”.

Trading tips

Weak data on Australian labour market is likely to prevent the rise in the pair and may cause the decline. Short positions should be opened below the levels of 0.9440 and 9.0375.

Ilya Lashenko

Analyst of LiteForex Group of Companies

Publication source
LiteForex information  LiteForex reviews

September 30, 2016
Euro continues to trade sideways inside a 100pips range
Looking at the hourly chart, the pair still fighting to overtake 1.1235 barrier, which is considered as the near-term resistance for the single currency...
September 29, 2016
Will Brexit be more painful for Europe rather than for the UK?
The risk is increasing on the market ahead OPEC meeting in Algiers and Yellen testimonial, which will happen before the House panel. FED-fueled rally on gold starts to fizzle out as the December futures keep on a losing streak for a second day, finally dipping by 0.12% to 1,328.75...
September 28, 2016
US presidential debate moves unwind
The market’s initial response to the US presidential election debate overnight was a clear sigh of relief. The Mexican Peso, which had hit a record low against the dollar just the day before, surged higher, as too did the Canadian dollar...

OANDA Rating
Larson&Holz IT Ltd Rating
Grand Capital Rating
Vantage FX Rating
FBS Rating
Orbex Rating

Anyoption Rating
Empire Option Rating
TropicalTrade Rating
365BinaryOption Rating
OptionBit Rating
Binary Brokerz Rating