Forex: AUD/USD on the rise after better than expected Aus jobs data

FXstreet.com (Barcelona) - Better than expected Australian jobs data is currently fueling the AUD/USD to the upside from previous 1.0440 quote before the news, to recent session highs at 1.0474, and rising. Unemployment rate fell from a previous 5.4% to 5.2%, when a rise to 5.5% was expected.

With same participation rate at 65.1%, and full time employment losing -4200 jobs, employment overall rose in +13900 positions. Aussie is printing higher session highs, last at 1.0479, just few pips shy of previous weekly highs yesterday and Tuesday at 1.0485. Another RBA cut in next meetings now seems unlikely.

Immediate resistance to the upside comes at yesterday's double weekly high 1.0485, followed by Nov 27 highs at 1.0490, and Sept 21 highs at 1.0522. To the downside, closest support lies at recent session lows 1.0441, followed by Nov 20 highs at 1.0422, and Monday's lows at 1.0394.

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