Australian jobs data: Topside risk for the AUD/USD

  • There has been some poor economic data over the last two days but the AUD has risen in spite of this.
  • FOMC burst the USD bullish bubble overnight.
  • I see the main risk being to the topside post-jobs data. A strong number could set off another batch of short-covering (which I don’t think has really yet begun in earnest!).
  • .9150/.9350 likely to cover most eventualities in coming sessions but its going UP!!
  1. Hi Sean more poor economic data more pressure on a rate cut. It seems to me the bigger trend will continue. If the AUD gets sold today tonight I think we will break 90 in next week down to 88. Limited upside only IMO

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