When is the Australian employment report and how could it affect AUD/USD? – by anilpanchal7 AUDUSD Australia Employment RiskAversion Events
An upbeat jobs report could trigger a rally in AUD/USD, but its sustainability depends on other factors, mostly external ones. For the pair to break above 0.6800, it looks like a stronger Australian dollar alone is not enough. Positive data could bring the pair closer to the key area.AUD/USD picks up bids to defend the previous day’s rebound from a two-week low even as the buyers appear to lack the strength of late, especially due to the pre-data anxiety.
Technically, a daily closing beyond convergence of the 21-DMA and 10-DMA, near 0.6685 at the latest, becomes necessary for the AUD/USD bulls to keep the reins. That said, repeated failures to cross 0.6700 keeps the pair sellers hopeful of visiting an upward-sloping support line from early March, close to 0.6610 at the latest.The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia.
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