Home Analysis Australian dollar spikes higher on upbeat jobs data

Australian dollar spikes higher on upbeat jobs data

Australian dollar spikes higher on upbeat jobs data - forexspacex.com

The Australian dollar rebounded firmly in the morning session on upbeat jobs data. According to the Australian Bureau of Statistics, the unemployment rate decreased to 3.4% in the previous month and employment increased to 13,623,700. This presents a strong case for the Reserve Bank of Australia to hike the interest rate in their next monetary policy meeting. Analyzing the daily chart, it looks like the bulls are ready to take control of the next immediate resistance level at 0.6700 level by the end of this week. The AUD is up by some 0.30% against the US dollar and is trading well above the 100-day exponential moving average price.

Pivot Points on daily timeframe

NameS3S2S1Pivot PointsR1R2R3

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