Forex: AUD/USD: Watch for key extremity breaks on AU jobs data - V.Bednarik

FXstreet.com (San Francisco) - AUDUSD is under slight bear pressure ahead of Australian employment data figures scheduled for release today in the Asia-Pacific (at 00:30 GMT). Consensus expectations are for a rise in the seasonally adjusted unemployment rate to 5.4% in the final month of 2012, and for the economy to have produced 2,300 jobs. "Watch for breaks above 1.0600 or below 1.0490 if news diverge strongly for expectations, leading the pair to a 40/60 pips continuation move," comments Valeria Bednarik, Chief Analyst at FXstreet.com in a daily research note.

Bednarik also notes that, on the daily chart, the last three candles depict long lower shadows, "which suggest buying on dips is still the name of the game," she explains. Last quoted near the bottom of its intraday range at 1.0560, the analyst identifies support levels at 1.0520, the mentioned 1.0490 mark, then 1.0450. Ahead of the cited 1.0600 figure, immediate bullish target is noted at 1.0580.