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15 Jan 2015
AUD/USD rallies on strong Aussie jobs data
FXStreet (Guatemala) - AUD/USD is on the bid, currently trading at 0.8195, testing the 0.82 handle, with a high of 0.8208 and a low of 0.8133 and up 0.45% on the day.
AUD/USD has rallied on the decent employment data that beat expectations by 100 times in December. The pair has spiked from 0.8140 up to test the 0.82 handle, challenging the recent bouts of supply orchestrated at the start of the week in the bearish gap that was founded at the highs of 0.8260.
At this level, there has been strong resistance since December's business with southerly winds starting in September at the 0.94 handle. Karen Jones, chief analyst explained that they are looking for a correction higher to the .8307 downtrend. "A close above the downtrend at 0.8307 will initiate a deeper retracement to 0.8356/70 then .8472 (Fibonacci retracements)".
AUD/USD has rallied on the decent employment data that beat expectations by 100 times in December. The pair has spiked from 0.8140 up to test the 0.82 handle, challenging the recent bouts of supply orchestrated at the start of the week in the bearish gap that was founded at the highs of 0.8260.
At this level, there has been strong resistance since December's business with southerly winds starting in September at the 0.94 handle. Karen Jones, chief analyst explained that they are looking for a correction higher to the .8307 downtrend. "A close above the downtrend at 0.8307 will initiate a deeper retracement to 0.8356/70 then .8472 (Fibonacci retracements)".