10 Apr 2014
Aus jobs miss may see AUD dip buers - Arab Bank
FXStreet (Bali) - David Scutt, Treasury Dealer at Arab Bank, shares his view on the Aussie ahead of the Australian jobs number.
Key Quotes
The AUDUSD looks set to test the .9400 level during today’s Asian session with the pair currently fetching .9388.
In what is a simple scenario, should the domestic unemployment data beat later on this morning, the pair should easily break above this level on the back of growing rate hike expectations.
Conversely, should the data miss, expect the Aussie to dip lower before rebounding before the release of Chinese trade data around Midday.
If strong, the Aussie will likely attempt to crack the .9400 level. If weak, expect the pair to fall modestly before finding support on renewed stimulus chatter. Speaking of support, it’s found at .9387 and between .9340-50 with resistance kicking in at .9400 and .9448.
Key Quotes
The AUDUSD looks set to test the .9400 level during today’s Asian session with the pair currently fetching .9388.
In what is a simple scenario, should the domestic unemployment data beat later on this morning, the pair should easily break above this level on the back of growing rate hike expectations.
Conversely, should the data miss, expect the Aussie to dip lower before rebounding before the release of Chinese trade data around Midday.
If strong, the Aussie will likely attempt to crack the .9400 level. If weak, expect the pair to fall modestly before finding support on renewed stimulus chatter. Speaking of support, it’s found at .9387 and between .9340-50 with resistance kicking in at .9400 and .9448.