AUDUSD - Labour Data Release 08/05
A decent increase in the unemployment numbers. Basically unemp. rate was steady with an increase in new jobs added + upward revision to last month. In comparison, US NFP was more bullish. (and today's China data was also upbeat).
Last month's Aussie High/Low on unemployment data sits at 0.946 - 0.93696. Watch for price action at these levels.
Since March, the price rally has seen little support, the most recent at 0.92197 but it was mostly a touch and go, which indicates to me that price is moving up simply to pick up some orders sitting above.
I think that the rally might not be able to break 0.945 - 0.95 levels unless a firm support is established.
Last month's Aussie High/Low on unemployment data sits at 0.946 - 0.93696. Watch for price action at these levels.
Since March, the price rally has seen little support, the most recent at 0.92197 but it was mostly a touch and go, which indicates to me that price is moving up simply to pick up some orders sitting above.
I think that the rally might not be able to break 0.945 - 0.95 levels unless a firm support is established.