Forex: AUD/USD threatens 1.0500

FXstreet.com (Córdoba) - The Australian dollar has continued to push higher on Thursday, reaching a 2 ½-month high, supported by strong employment data in Australia, although the rally stalled just ahead of the 1.0500 psychological level. AUDUSD peaked at 1.0495 and it is currently trading at the 1.0490 zone, recording a 0.4% gain on the day.

"Aussie is breaking above a daily descendant trend line, still having trouble to overcome 1.0500 against the dollar, but bullish no doubts", says Valeria Bedanrik, analyst at FXstreet.com. "Better than expected employment figures in Australia past Asian session support current upward momentum: a break above 1.0500, some consolidation above, should open doors for further advances with 1.0550 and 1.0600 areas as immediate resistance levels. To the downside, 1.0460 and 1.0430 are supports today".