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AUD/USD swinging ahead of Australian unemployment rate

  • The AUD/USD pair retreats to the middle zone on Wednesday.
  • Australian jobs data due early Thursday will give Australian traders pause.
  • US data was mixed on Wednesday, and the Dollar failed to advance.

AUD/USD retreats to Wednesday’s midrange as the pair fails to move decisively in either direction. US data was mixed, while AUD traders will brace for an additional round of Australian jobs data.

US retail sales for October beat expectations but still posted some declines and came in at -0.1% versus the forecast of -0.3%, and the September reading was revised up from 0.7% to 0.9%.

The US Producer Price Index (PPI) excluding food and energy also came in slightly below expectations at 2.4%, versus 2.7% expected.

Australian market traders will be watching the jobs data that will be released early in the session on Thursday.

The change in Australian employment for October is expected to show an increase of 20,000 additional jobs for the month, up from 6.7 thousand in September. Meanwhile, the Australian unemployment rate is expected to rise from 3.6% to 3.7% in October.

AUD/USD Technical Outlook

The AUD/USD pair is getting stuck in the 0.6500 area, an area that should make bidders nervous as it is the turning point for prices at the beginning of the month, and it seems that the pair is running out of gas of its recent bullish rebound.

There is still a significant price ceiling at the 200-day SMA near 0.6600, and the floor in any bearish correction lies at the 50-day SMA at 0.6400, with bids trapped in between.

AUD/USD Daily Chart

AUD/USD technical levels


Latest price today 0.6517
Today I change daily 0.0009
Today’s daily variation 0.14
Today’s daily opening 0.6508
daily SMA20 0.6381
daily SMA50 0.6389
SMA100 daily 0.6492
SMA200 daily 0.6601
Previous daily high 0.6512
Previous daily low 0.6356
Previous weekly high 0.6523
Previous weekly low 0.6339
Previous Monthly High 0.6445
Previous monthly low 0.627
Daily Fibonacci 38.2 0.6453
Fibonacci 61.8% daily 0.6416
Daily Pivot Point S1 0.6405
Daily Pivot Point S2 0.6302
Daily Pivot Point S3 0.6249
Daily Pivot Point R1 0.6562
Daily Pivot Point R2 0.6615
Daily Pivot Point R3 0.6718

Source: Fx Street

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