Australian employment data to be released in the new day

  


Levels of the AUDUSD through the employment report

Australian employment data will be released in the new trading day. The estimate is for 

  • employment change of 16.0K vs 28.4K last month. 
  • Unemployment rate is exected to fall to 5.1% from 5.2%. 
  • Full time jobs fell -6.3K last month
  • Part time jobs rose 34.7K last month.
Levels of the AUDUSD through the employment report

The AUDUSD has moved lower since peaking last on Friday. The fall today fell away from the 

  • 200 hour MA (at 0.69678 currrently), 
  • below a trend line, 
  • the 50% retracement at 0.69429, 
  • and the 100 bar MA on the 4-hour chart at 0.69369.  

The 100 bar MA and the 50% retracement will be risk/bias shifting levels in the new day. Trade back above those levels, and the bias tilts more back to the upside (likely on stronger data). 

On the downside, the 0.6896 to 0.6904 is home to a number of swing levels (see red numbered circles).  A move below that level will have traders looking toward the May lows at 0.6864. Below that level, and the 2016 low at 0.6826 and the January 3 flash crash low at 0.6741 

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