Filed Under:
Forex pairs in this Article » AUD/USD, EUR/AUD, EUR/USD (Barcelona) - EURAUD is making worst daily losing string at the moment since it bottomed out by early August around the 1.16s, last at 1.2519, a -2.34% for the week so far. Better than expected Aussie jobs data, even though unemployment rate rose again to 5.4% from 5.1% 2 months ago, have lifted AUDUSD to fresh weekly highs last at 1.0264, at the same time EURUSD has broken lower to fresh session lows, last at 1.2845.

"Big jump in number unemployed," says Economics correspondent for Australia's leading newspapers Peter Martin, noting "now are 662,700, the most in three years," Peter adds. The EURAUD cross is now printing fresh 6-day lows, finding some support at previous mid Sept highs, around the 1.25s, near 61.8% Fibo retrace of latest up leg 1.2329/1.2840, still 100 pips above main Fibo retrace of daily up move from all time record lows and 200 day SMA at the same time around the 1.24 round.

Immediate support to the downside shows at recent session lows 1.2512, followed by Sept 26 highs at 1.2461, and mentioned 200 day SMA and Fibo level at Sept 05 highs 1.2391/1.2404. For the upside, closest resistance comes at yesterday's lows 1.2557, followed by yesterday's NY session highs at 1.2612, and past Friday's lows at 1.2665.
comments powered by Disqus