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FxWirePro: AUD/USD pauses shy of 200-DMA resistance, breakout required for further upside

AUD/USD chart - Trading View 

AUD/USD spiked higher on Thursday's trade as the Aussie was buoyed on upbeat labor market report. 

The data released by the Australian Bureau of Statistics showed the fulltime jobs growth picked up pace in June. 

The economy added 21.1K fulltime jobs last month, compared to 2.4K additions in the prior month. Further, the jobless rate remained unchanged at 5.2% as expected. 

Upbeat labor data will for now ease pressure on the Reserve Bank of Australia to cut rates immediately in August. 

Major trend in the pair has been bearish and the pair finds stiff resistance at 200-DMA at 0.7090. Breakout required for further upside.

Technical indicators are turning slightly bullish on the daily  charts. Scope for upside rising.

Price action has broken above daily cloud and is currently hovering around 23.6% Fib. Break above 200-DMA will see gains upto 38.2% Fib at 0.7276.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
 

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

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Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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48.6 %

January 31 00:00 UTC 817082817082m

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2016 bln ARS

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 828902828902m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 817082817082m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 828902828902m

ARTrade Balance

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Forecast

Previous

-1541 %

January 31 00:00 UTC 817082817082m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 817082817082m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 817082817082m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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