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AUD/USD awaits jobs data as key event

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 9, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - AUD/USD awaits the jobs numbers today now that the Chinese data is out of the way for this week.

    The next stop thereafter will be the FOMC and final Fed decision for this year, 2015. 2016 is eagerly awaited and the RBA might want to look again at their policy with a series of data to review upon and tonight's jobs data will be critical, because there is little positive news else-where and commodities are a real threat to the RBA's inflation target, particularly oil and LNG prices.

    AUD/USD levels

    Technically, the minor recovery has hit a brick wall on the 0.73 handle and the downsides to play for currently. The 20 SMA on the hourly chart has been broken at 0.7215 and we have already seen lows at 0.7172 when the Asian supply took over. 0.7180 is the point at which the price rallied in late November trade to recent highs so has been a level of support at those lows. However, a further test or two and a material break could be last defense for 0.7017 November low and the September low at 0.6940.


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