AUD modestly lifted by labour data and solid start to China equity trading
Australian labour report for June showed total employment rose 7.3k, the expectations were for a flat print. The Australian dollar got a modest lift from the data. The better than expected outcome plus a solid start to e…
Australian labour report for June showed total employment rose 7.3k, the expectations were for a flat print.
The Australian dollar got a modest lift from the data. The better than expected outcome plus a solid start to equity trading in China has helped AUD higher and we have seen 0.7475 high so far.
After a rapid fall in recent sessions, the risks of a further squeeze towards 0.7510/0.7530 is possible.
AUD/USD is currently supported at 0.7423 (4H Tenkan-Sen). Resistances on the upside are seen at 0.7554 ((20 DMA) and 0.7508 (4H Kijun)
