AUD/USD At 3 Week Range Highs
The news that only 54,000 U.S. jobs were gained in May was around a third of the forecast level. This should encourage AUD/USD bulls to push the pair towards the 1.1000 resistance highs over the coming weeks – unless their is a significant deviation from forecast news over the coming weeks – which is always possible.
The AUD/USD currency pair has been consolidating between the key 1.0500 support and 1.1000 resistance levels.
Next week brings important Australian data including unemployment data on Thursday which is predicted by analysts to stay at 4.9%. The employment change figure is also expected to rise after falling last month.The RBA rate decision will be revealed on Tuesday with the benchmark rate forecast to stay at 4.75%.
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