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Strong Employment Data Helps Lift AUD From Lows


AUD/USD off session lows after labour market data. The Australian economy unexpectedly added 2,200 jobs against an expected decline of 43,100. The jobless rate fell 0.4ppts to 4.6%, though the gains were seen in part time jobs while full time employment fell, hours worked also dropped slightly. The pair touched lows of 0.7213, but has bounced to 0.7229, recovering the majority of the session losses. Support is now seen at 0.7202 2.0% 10-dma envelope, while significance resistance above is seen at 0.7341.

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