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Bull Cycle Intact


Heading South

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AUSSIE: AUD/USD has edged higher in the wake of the latest AU labour market
data, reacting to the lower than expected unemployment rate during September
(5.0%; Median 5.3%; Aug 5.3%) which was driven by a fall in the participation
rate (65.4%; Median 65.7%; Aug 65.7%), as the headline addition to the number of
those employed missed expectations (+5.6K; Median +15.0K; Aug +44.6K).
- AUD/USD last deals 15 pips higher at $0.7124, off of the reaction high
- The previously mentioned initial support and resistance levels remain in play.
Initial support at the October 11 NY low ($0.7091), with initial resistance at
Wednesday's intraday high ($0.7160).
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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