AUDUSD ahead of the Aussie Employment Data

AUDUSD Analysis

The AUSUSD is contracting up off support around 0.7116 holding minor higher levels. With employment data out at 11:30am AEDT, we expect to see the action pick up on the currency. A stronger positive number above expectations should see a pop in the FX pair but a weaker than expected number will see the sellers resume the pressure for a break of 0.7116. We will watch to see how this plays out but generally traders are not expecting a rate rise anytime soon so the Aussie is still heavily linked to China’s economic fortunes and the trade war outcome.

Employment Data

Last : UP 37.0k

Expectations : UP 17.3k