AUD/USD awaits key jobs data – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet noted that the AUD/USD pair continued trading in a limited intraday range, but it may wake up from its lethargy during the upcoming Asian session, given that Australia will release its November consumer inflation expectations, previously at 3.5%, and the employment data for October.

Key Quotes

“According to market expectations, the report should result in a positive surprise as the country is expected to have added 15,000 new jobs, while the unemployment rate is expected to remain steady at 6.2%. The Australian dollar has suffered from poor Chinese data, and a steady decline in gold prices, situations that are far from changing. Therefore, any intraday advance may be reverted by longer term traders waiting to sell at higher levels.

Technically, the 1 hour chart shows that the price holds below its 20 SMA, while the technical indicators head slightly lower below their mid-lines, but lacking momentum, supporting a downward move. In the 4 hours chart, the price is hovering around a flat 20 SMA, while the technical indicators have turned lower around their mid-lines, also showing no directional strength.”
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Source:: FX Street