AUD/USD: fresh 2017 highs scored after mixed jobs report

Ross J Burland FXStreet

AUD/USD has been in a chop on the back of the jobs data announcements that were mixed with a decent headline number is respect of what had been expected, although the full-time jobs component was a big disappointment and a cause for alarm.

Aussie jobs summary

Australian Jan employment headline upbeat, full-time jobs suffer sharp fall

As explained in the preview, the Aussie might have been expected to react strongly to a considerably positive report considering some of the improvements seen in the previous two reports as a relief for the RBA while anything other may not have been a ground-breaking event for the Aussie and at this stage it seems markets are quickly moving on. The price action, thus far, has scored a new high and has been volatile between a narrow range of 0.7711 and 0.7731 at the top of the 2017 recovery.

AUD/USD levels

AUD/USD broke the daily resistance of 0.7680 recently and previous high for the year 2017 at 0.7718. On the upside, November's high at 0.7777 guards territory towards 2016's high at 0.7831. 0.7730/40 is immediate resistance support in at 0.7710 and 0.7680/90 guarding territory down to 0.7605/20 and to the bottom of 6th Feb commencing sideways channel.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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