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Forex: AUD/USD retracing from highs

December 06, 2012 | Filed Under »
Forex pairs in this Article » AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar is trimming early gains, after upbeat domestic employment data pushed the cross to the strong barrier at 1.0480; the jobless rate in Australia came in lower at 5.2% during November, down from October's 5.4% and estimates at 5.5%. In addition, the employment change rose by 13.9K vs. expectations of a flat reading.

At the moment, the cross is posting meager gains at 1.0458 or 0.02%, with the next resistance lying at 1.0485 (highs dec.4/5) ahead of 1.0491 (high Nov.27) and then 1.0495 (Upper Bollinger).
On the other hand, a breach of 1.0445 (high Dec.3) would aim to 1.0412 (MA21d) and 1.0393 (low Dec.3).
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