A look at the AUDUSD as Aussie Employment Data due for release

Aussie Employment Data is due out at 11:30am with expectations for a gain of 15.3K new jobs and the unemployment rate is expected to remain at 5.3%

AUDUSD Analysis

The Aussie is currently hovering around the 0.6750 zone prior to the employment data release. We expect to see the action pick up into the release and will be watching the reaction of the Aussie to the numbers. We expect to see a squeeze of the recent short positions if the numbers come out better than expected essentially taking the pressure off another rate cut in the near term. If numbers are less than expected or revised lower, expect to see the action continue lower. Either way we see some choppy action on the AUDUSD after the numbers with the big end of town washing out both sides of the market prior to starting a move in either direction.