AUDUSD Employment Report Tonight…


The pair continued its slow and steady march lower on Tuesday. Support at the 1.0040 level stopped the crosses fall and could act a sling board for a correction higher.  The key to the puzzle will be revealed tonight with AUD Employment Report.  It is projected that 5k jobs will be lost and the employment rate will be 5.3%.  If we receive a number greater than the -5k we could see a rally in the pair.  A significant miss by the numbers and we could see a break below parity towards 98.90.  In the short-term resistance is at 1.01 followed by 1.025/50 and support is at 1.0040 followed by .9890.

Sup    1.0040           .9890

Res    1.01                  1.0250/25