The jobs data released by Australia for the month of January were significantly worse than expected, no matter how we look at them. Not only did the unemployment rate hit 6%, but it also came on top of a lower than expected participation rate. The Australian dollar reacted accordingly and lost the 0.90 line that was captured with a lot of effort. Australia lost 3.7K jobs in January, significantly weaker than a gain of 15.3K that was expected. December’s big job loss was revised to an even worse loss: from 22.6K to 23K. The unemployment rate was predicted to move up from 5.8% to 5.9%, but it made it to the round number of 6%. The participation rate is now 64.5%, and it was expected to be 0.1% higher. Also in the division between full time and part time employment, the picture isn’t positive: 7.1K full time jobs were lost while 3.4K were gained. Also in December, gains in part time jobs partly compensated for a big loss of full time jobs. AUD/USD Here is how it looks on the chart: The Australian dollar was already sliding from the highs of 0.9070 towards the publication and stood at around 0.9030. The big disappointment sent it around 100 pips lower to 0.8926, and at the time of writing it has stabilized at around 0.8950. Support awaits the pair at around 0.8910, followed by 0.8820. Resistance is at the obvious line of 0.90. For more events and analysis, see the AUD to USD forecast. 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 EUR/USD: Trading the German Initial GDP February 2014 Kenny Fisher 8 years The jobs data released by Australia for the month of January were significantly worse than expected, no matter how we look at them. Not only did the unemployment rate hit 6%, but it also came on top of a lower than expected participation rate. The Australian dollar reacted accordingly and lost the 0.90 line that was captured with a lot of effort. Australia lost 3.7K jobs in January, significantly weaker than a gain of 15.3K that was expected. December's big job loss was revised to an even worse loss: from 22.6K to 23K. The unemployment rate was predicted to move… Regulated 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.