The AUDUSD has been a lazy pair over the last few days. The cross opened the week at 1.0561 and is currently trading at 1.0564. The pair has traveling in about a 50 pip range. Things may be about to change. At 1:30 GMT the AUD Employment Report is scheduled to be released. Economist are looking for 10K jobs to be added and an unemployment rate around 5.3%. The gravy could be in the details with full-time jobs expected to fall 33.5K and part-time jobs expected to advance by 6.6K. A better than expected report could send the pair up towards the 1.0630 level. If the cross can gain traction above its ascending trend line the pair could make a run towards yearly highs over the next few weeks. If the data disappoints, a move towards trend line support at 1.0435 could play out. Data will also be dropping out of China that could impact this cross. CNY Consumer Prices 1.7%, Fixed Assets 20.6%, Industrial Production 10.4% and Retail Sales 14.3% are due at 5:30 GMT.
Sup 1.0435
Res 1.06/.0630
Keane Insight: Watch Employment and China Data for direction. Better than expected jobs could push the pair above channel support.
News
AUD Employment 10K 5.3% Part Time 6.6K Fill Time -33.5K
CNY Consumer Prices 1.7%
Fixed Assets 20.6%
Industrial Production 10.4%
Retail Sales 14.3%
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