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Free AccessAUD crosses lose altitude following the......>
AUSSIE: AUD crosses lose altitude following the release of an underwhelming
Australian jobs report. The unemployment rate ticked higher to 5.3% against
projection of no change. This uptick was underpinned by a slight, unexpected
fall in the participation rate and a surprise decrease in employment.
Underemployment & underutilisation rose, erasing declines from the prior month.
We have also seen negative revisions to the previous employment readings.
- AUD/USD deals at $0.6805, 33 pips worse off. Trendline support/50-DMA at
$0.6826/19 gave way. Consolidation below the Oct 25 trough at $0.6809 & a dip
under $0.6800 would open the 61.8% retracement of the Oct bull mkt at $0.6770.
- AUD/NZD last seen at NZ$1.0632, 34 pips lower. The 100-DMA at NZ$1.0622
remains in focus, ahead of the next round figure below.
- AUD/JPY has dropped 41 pips, sits at Y74.00. Bears look for a break under the
50-DMA/100-DMA (note the recent bullish crossover) at Y73.76/71. Below would
expose the 38.2% retracement of the Aug 26 - Nov 7 rally at Y73.49.
To read the full story
Sign up now for free trial access to this content.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.