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13 Jun 2013
AUD/USD paring losses, eyes 0.9500
FXstreet.com (Edinburgh) - The AUD/USD is reverting initial losses on Thursday, bouncing from overnight lows around 0.9430 to the current region of 0.9485/90.
Decent jobs data supporting AUD/USD
In the data front, the jobless rate in Australia ticked lower to 5.5% in May, bettering the median and April’s print at 5.6%, while the employment changed added 1.1K jobs. According to Adrian Foster, Strategist at Rabobank, “Worst fears on the jobs front are not panning out but neither is employment growing strongly. Nothing here to suggest the RBA will hike in the July, is my read”.
AUD/USD levels to watch
At the moment the pair is up 0.02% at 0.9487 facing the next resistance at 0.9564 (high Jun.12) ahead of 0.9566 (MA10d) and finally 0.9575 (high Jun.7). On the flip side, a breakdown of 0..9416 (low Jun.12) would expose 0.9355 (hourly high/lows Jun.11).
Decent jobs data supporting AUD/USD
In the data front, the jobless rate in Australia ticked lower to 5.5% in May, bettering the median and April’s print at 5.6%, while the employment changed added 1.1K jobs. According to Adrian Foster, Strategist at Rabobank, “Worst fears on the jobs front are not panning out but neither is employment growing strongly. Nothing here to suggest the RBA will hike in the July, is my read”.
AUD/USD levels to watch
At the moment the pair is up 0.02% at 0.9487 facing the next resistance at 0.9564 (high Jun.12) ahead of 0.9566 (MA10d) and finally 0.9575 (high Jun.7). On the flip side, a breakdown of 0..9416 (low Jun.12) would expose 0.9355 (hourly high/lows Jun.11).