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Australia gained 7.3K jobs in June, better than a small loss of jobs that was expected. In addition, the unemployment rate stands at 6%, also better than 6.1% that was predicted.

Together with better than  estimated Chinese inflation and a rise in Chinese stocks, the Aussie managed to recover,  but this may not necessary last too long.

Within the  internal data, full time employment is up 24.5K and part time employment is down 17.2K, so it  also looks good on the inside. The participation rate is at 64.8%, actually up from 64.7%  in May.

In China, inflation came out stronger than expected, with 1.4% instead of 1.2% last time and 1.3% expected. The  bigger news from  China came from its  stock markets: they finally responded to the government’s efforts and bounced back up after many days of big losses.

AUD/USD advanced  from the lows, keeping some breathing space from the round 0.74 level. The  peak of this move came in at 0.7490, short of the round 0.75  line that was eyed by the RBA some time ago.

But this is now gone, with Aussie/USD trading back down to 0.7430.

Here is how it looks on the chart:

Australian dollar chart July 9 10 2015 technical analysis