AUD/USD seeing some hesitation ahead of Australian Unemployment Rate

The AUD/USD is pulling back into the Wednesday midrange.
Australian labor data due early Thursday, giving Aussie traders cause for pause.
US Data mixed on Wednesday, sending the Greenback nowhere in particular.

Joshua Gibson FXStreet

The AUD/USD is trading back into the Wednesday midpoint as the pair fails to push in either direction decisively. US data came in mixed while Aussie (AUD) traders will be bracing for an additional round of Australian labor data.

US Retail Sales for October came in above expectations, but still saw some declines to print at -0.1% against the forecast -0.3%, and September's read was revised upwards from 0.7% to 0.9%.

US Producer Price Index (PPI) ex Food & Energy for the year into October also missed expectations slightly, printing at 2.4% against the street's expected hold at 2.7%.

Aussie traders will now be looking ahead Australian labor data due early in the Thursday session.

Australian Employment Change for October is expected to show an additional 20 thousand job additions for the month, an increase from September's 6.7 thousand. Meanwhile, the Aussie Unemployment Rate is expected to tick upwards from 3.6% to 3.7% in October.

AUD/USD Technical Outlook

The AUD/USD is getting hung up on the 0.6500 handle, a region that should make bidders nervous as it's the turnaround point for prices earlier in the month, and the pair looks to be running out of gas on its recent bullish bounce.

There is still a significant price ceiling from the 200-day Simple Moving Average (SMA) near 0.6600, and the floor on any bearish corrections sits at the 50-day SMA at 0.6400, with bids trapped in the middle.

AUD/USD Daily Chart

AUD/USD Technical Levels

AUD/USD

Overview
Today last price	0.6517
Today Daily Change	0.0009
Today Daily Change %	0.14
Today daily open	0.6508

Trends
Daily SMA20	0.6381
Daily SMA50	0.6389
Daily SMA100	0.6492
Daily SMA200	0.6601

Levels
Previous Daily High	0.6512
Previous Daily Low	0.6356
Previous Weekly High	0.6523
Previous Weekly Low	0.6339
Previous Monthly High	0.6445
Previous Monthly Low	0.627
Daily Fibonacci 38.2%	0.6453
Daily Fibonacci 61.8%	0.6416
Daily Pivot Point S1	0.6405
Daily Pivot Point S2	0.6302
Daily Pivot Point S3	0.6249
Daily Pivot Point R1	0.6562
Daily Pivot Point R2	0.6615
Daily Pivot Point R3	0.6718

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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