Aussie Remains Volatile Ahead of Job data, 25+ PIP Volatility Expected in AUD Parity; Dec 16, 2020
Australia’s Job Data
Australia will release employment change as well as unemployment rate at 0030 GMT/0600 IST. This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
Let’s see how AUD has reacted during the previous data release:
AUD/USD: The Aussie remains volatile ahead of Australia’s job data due tomorrow and stabilizes above $0.7550 mark. The pair made intraday high at $0.7578 and low at $0.7545 marks. On the top side key resistances are seen at $0.7590, $0.7622 and $0.7650 mark respectively. On the other hand, a consistent close below $0.7530 will take the parity down towards key supports around $0.7500, $0.7450, $0.7398, $0.7350, $0.7297, $0.7270, $0.7220 and $0.7190 mark respectively.
Take a look and do trade wisely!