FXstreet(Barc elona) - The Aussie is trading higher during the Asia
session, up 66 pips at 1.0235. The pair was initially trading around
1.0190 before the release of the Aussie Employment Data at 1:30GMT which
came in much better than expected at 50,100 actual vs. 12,000 forecast.
Also note, China CPI was also released at the same time, coming in at
2.4% actual vs. 2.3% estimate.
According to analysts at FXStreet, The Australian jobs data has once again beat market expectations, after the total employment change rose by 50,100 vs 12,000 expected. But most importantly, full time job creation climbed to 34,500 vs upward revision to -4,100. Besides, the participation rate went up to 65.3 vs 65.1 expected. Australia unemployment dropped to 5.5.”
The FXStreet Trend Index remains Slightly Bullish on the 1 hour chart, while the OB/OS Index reads Overbought. From a technical perspective, initial resistance sits at 1.0261 (the 9dma), followed by 1.0292 (the 20dma). First support will now be 1.0210 (previous resistance, now support on 1 hour chart), followed by 1.0184 (the 9dma on 1 hour chart).
According to analysts at FXStreet, The Australian jobs data has once again beat market expectations, after the total employment change rose by 50,100 vs 12,000 expected. But most importantly, full time job creation climbed to 34,500 vs upward revision to -4,100. Besides, the participation rate went up to 65.3 vs 65.1 expected. Australia unemployment dropped to 5.5.”
The FXStreet Trend Index remains Slightly Bullish on the 1 hour chart, while the OB/OS Index reads Overbought. From a technical perspective, initial resistance sits at 1.0261 (the 9dma), followed by 1.0292 (the 20dma). First support will now be 1.0210 (previous resistance, now support on 1 hour chart), followed by 1.0184 (the 9dma on 1 hour chart).
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