Aussie has cleared immediate resistance around 0.772 area, up more than 1% for the day.
Economic dockets released from Australia today, showed commendable improvement despite fall in commodity prices.
- Unemployment rates dropped to 6.1% from 6.2% prior with participation rate improving marginally to 64.8%. Market was expecting 0.1% rise in unemployment.
- In March 37,700 people joined work force, with 31,500 people joining full time employment and rest 6200 joining as temporary. Full time employment has been rising since October last year.
- Growth rate in new vehicle purchased rose to highest since July 2013 to 4.4%.
- Consumer inflation expectation rose to 3.4% in April, after registering drop in March.
Aussie is currently trading at 0.775, and might look forward to test.
- However Aussie has not broken the down trend yet and remain in a range as buyers and sellers both failing to break support and resistance.
Aussie might look up to test the resistance area at 0.79-0.80 once more.
