7 Nov 2013
AUD/USD plunges to 0.9482; violates support
FXstreet.com (Chicago) - AUD/USD broke below the immediate support falling to 0.9484 session lows, almost 40 pips down from opening, on worse than expected Australian results.
Unemployment rate (October) was 5.7% matching prior and expected results. Employment change was 110 vs. expected 10,000 and past 3300 while fulltime employment was -27900 vs. past -1800. Part-time employment was 3.544 vs. prior 4100. Market participants reacted negatively as heavy selling sent the pair to 0.9484 session lows.
AUD/USD Technical Levels
Offered at 0.9483, the pair trades below support at 0.9514 (October 29th highs) now facing 0.9459 (November 4th lows) ahead of 0.9427 (November 2nd lows). On the upside, resistances are aligned at 0.9554 (October 14th highs), 0.9621 (October 28th highs) followed by 0.9673 (October 24th highs).
Unemployment rate (October) was 5.7% matching prior and expected results. Employment change was 110 vs. expected 10,000 and past 3300 while fulltime employment was -27900 vs. past -1800. Part-time employment was 3.544 vs. prior 4100. Market participants reacted negatively as heavy selling sent the pair to 0.9484 session lows.
AUD/USD Technical Levels
Offered at 0.9483, the pair trades below support at 0.9514 (October 29th highs) now facing 0.9459 (November 4th lows) ahead of 0.9427 (November 2nd lows). On the upside, resistances are aligned at 0.9554 (October 14th highs), 0.9621 (October 28th highs) followed by 0.9673 (October 24th highs).