Australia gained 24.1K jobs in October, slightly better than around 20K expected. The unemployment rate didn’t surprise and stood on 6.2%. There were quite a few surprising job reports and revision from Australia of late. It seems that finally we are seeing some data that makes sense and it also looks OK. AUD/USD, which already reached a new cycle low of 0.8552 (lowest since 2010, three reasons for the fall) managed to climb back up above 0.86. This is still below the previous double bottom of 0.8660, but at least the free fall took a break. The internal numbers look even better: Australia gained 33.4K full time jobs and lost 9.4K part time jobs. The participation rate ws also positive: 64.6% instead of 64.5% predicted. Are the numbers reliable after the authorities revised 10 months of data and reported an unbelievable gain of 121K jobs a few months ago? Support is at the veteran line of 0.8567, despite the short breach. Resistance is at 0.8660. For more, see the AUD/USD forecast. Here is how this stabilization looks on the chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next No One Wants To Play in The Gold Sandbox – Analysts Yohay Elam 7 years Australia gained 24.1K jobs in October, slightly better than around 20K expected. The unemployment rate didn't surprise and stood on 6.2%. There were quite a few surprising job reports and revision from Australia of late. It seems that finally we are seeing some data that makes sense and it also looks OK. AUD/USD, which already reached a new cycle low of 0.8552 (lowest since 2010, three reasons for the fall) managed to climb back up above 0.86. This is still below the previous double bottom of 0.8660, but at least the free fall took a break. The internal numbers look… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
