Australian Dollar ($) has actually given a nice boost and has gained a ‘Bullish’ traction. While there has been a local unemployment data that has actually released at the beginning of the year. In a daytime, the currency pair ‘AUD/USD’ shown a nice boost while there has seen the greenback rising at the point of 0.7381.
On the other hand, Australia has added new jobs which have given a prime time in an employment data which has been released at the beginning of the year. There has been rising against the greenback in the FOREX market. Australia Govt. has added a few more jobs at 31.5K, while there have been new jobs which will be added in the month of October, there has been a whopping increase in the AUD Dollar ($) which has got a nice boost from the local employment data which was released at the beginning of the day. The greenback has forecasted a rise of around 0.7352.
Australia has added few jobs in October, while there has a local employment data that was released at the beginning of the day. There has been significant rise against the greenback which has actually shown an increase in the employment data which added a job as much as 32.7K in the part-time, while there has been around 42.8K full-time job opportunities. The unemployment rate has become steady at 5% which was one of the crucial indicators about why there was a whopping increase in the currency rate
List of Important events:
On a technical Front:
The currency pair’AUD/USD’ from now seems to be found a major acceptance has been trading above 100-day SMA which has been following an up-move beyond the 0.7321 level that will handle the confirmation that tends to be a near-term bullish breakout. There have been several market participants who are looking forward to the US economic data which have to highlight the release of monthly retail sales data, along with the initial weekly unemployment claims and regional manufacturing indices
The currency pair ‘AUD/USD’ has been built on the strong Aussie jobs data that has led to a positive momentum and have been touched 1-week tops, which has been trading around the 0.7285 regions.
Technical levels to watch
In a sustained move, there has been 0.7321, which has climbed up a fresh bout of short-coming which is likely to accelerate the trend towards 0.7381 heavy supply zone there has been some intermediate resistance near mid-0.7300s.
On a flip side, there is a 100-DMA, around the 0.7268 regions, now seems to protect the immediate downside, in return, there has been broken which might have turn the pair into quite vulnerable which has head back to 0.7200 support zone.