10 Jan 2014
AUD/USD spikes after US nonfarm payrolls
FXstreet.com (Córdoba) - The AUD/USD spiked to the 0.8950 area from near 0.8900 after nonfarm payrolls showed the US economy added fewer jobs than expected in December.
The US economy added just 74,000 new jobs in December, the smallest increase since the start of 2011, while the unemployment rate fell to 6.7% from 7.0%, probably because more people dropped out of the labor force. The AUD/USD jumped to a daily high of 0.8945, although as it usually happens, the pair has retraced most of its initial gains. At time of writing, the AUD/USD is trading at the 0.8910 area, still up 0.1% on the day.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could face immediate resistances at 0.8951 (Jan 8 high) and 0.8970 (Jan 7 high) ahead of 0.9000 (psychological level). On the flip side, supports are seen at 0.8864 (Jan 9 low) and 0.8842 (Jan 2 low) ahead of 0.8820 (Dec 18 low).
The US economy added just 74,000 new jobs in December, the smallest increase since the start of 2011, while the unemployment rate fell to 6.7% from 7.0%, probably because more people dropped out of the labor force. The AUD/USD jumped to a daily high of 0.8945, although as it usually happens, the pair has retraced most of its initial gains. At time of writing, the AUD/USD is trading at the 0.8910 area, still up 0.1% on the day.
AUD/USD technical levels
In terms of technical levels, the AUD/USD could face immediate resistances at 0.8951 (Jan 8 high) and 0.8970 (Jan 7 high) ahead of 0.9000 (psychological level). On the flip side, supports are seen at 0.8864 (Jan 9 low) and 0.8842 (Jan 2 low) ahead of 0.8820 (Dec 18 low).