The AUDUSD posted gains for a fourth consecutive day on Thursday, as the forex market reacted positively to stellar Australian employment numbers.
The AUDUSD climbed to a daily high of 0.7793 in Thursday’s Asian session. It would subsequently consolidate at 0.7766, advancing 0.3 percent. The pair is testing the 0.7869 resistance, but the real test will be the psychological 0.78 handle. On the downside, initial support is likely found at 0.7697.
Below is a breakdown of Australia’s jobs data for May:
- Participation Rate: 64.7%
- Unemployment Rate: 6%
- Part-time Employment: +27,300
- Full-time Employment: +14,700
- Total Employment Change: +42,000