- The aussie clears two-day losses against the dollar.
- After the Australian employment data, now comes the US.
AUD / USD is rising on Thursday supported by a correction in the dollar after two days of rising. The advance has brought the price closer to the 0.7800 area. The pair is trading in the zone of the day’s highs at 0.7780, after falling to 0.7722 on Wednesday.
The Australian dollar rose modestly in the Asian session after the Australian labor market figures were released, which showed an increase in employment of 29,000, in line with expectations. It was the fourth consecutive month with positive job creation. The unemployment rate went from 6.6% to 6.4%.
The economic calendar continues to be interesting since the weekly report on unemployment benefits will be published in the US on Thursday, in addition to data on the start of housing and the Philadelphia Fed manufacturing survey. On the Fed, Leal Brainard, Governor of the FOMC, and Raphael Bostic, Chairman of the Atlanta Fed will give public presentations.
The dollar retreats on all fronts, cutting back on recent gains. The DXY after failing to confirm above 91.00, is trading at 90.65, the low of the day. The decline in the greenback occurs despite the rebound in Treasury yields. The 10-year rate is 1.28%.
From a technical point of view, the dominant trend remains bullish in AUD / USD. To the upside, the key resistance zone looms in 0.7800 and 0.7820 (January maximum). While in the opposite direction, between 0.7700 and 0.7715 there are several major resistances, including the 20-day simple moving average. To yield this last zone, it would point to more falls.
Technical levels
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