Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View More
AUD/USD Looks Past Jobs Data, Risk Trends Point to Losses Ahead

AUD/USD Looks Past Jobs Data, Risk Trends Point to Losses Ahead

Megha Torpunuri, Contributor


  • Australian Dollar rose against greenback on mixed jobs data, but lacks follow-through
  • AUD/USD prices resume 2018 downtrend, with more bearish momentum perhaps ahead
  • Aussie looks to risk aversion,November’s US durable goods orders and consumption data

Build confidence in your own AUD/USD strategy with the help of our free guide!

The Australian Dollar was cautiously higher against its US counterpart after local employment data crossed the wires early into Thursday’s Asia Pacific trading session. November’s unemployment rate came in at 5.1%, an increase from both the expected and previous 5.0%. TAustralia’s economy added 37.0k jobs during last month, up from the 20.0k forecasted and 28.7k prior. Meanwhile, full-time employment declined by 6.4k jobs, compared to October’s 39.5k gain.

AUD/USD Chart (5-minute)

AUD/USD Chart (5-minute)

Chart prepared in TradingView

The slight uptick in prices is may not continue, as AUD/USD has maintained its downward trend under the descending February 2018 trend line. An Inverse Head and Shoulders formation occurred on the currency pair’s rally on the news of a temporary US-China trade truce, but negative RSI divergence has been confirmed with recent losses as expected. A break above the 0.7140-0.7192 support-turned-resistance levels could indicate an upswing in prices but interest rate differentials. In addition, declining Australian growth suggests that the Aussie can add to losses.

AUD/USD Chart (Daily)

AUD/USD Chart (Daily)

Chart prepared in TradingView

Looking ahead, the sentiment-linked unit may extend losses following widespread risk aversion as equities tumbled in response to a more hawkish Fed and with the S&P 500 poised to enter a bear market. In addition, the currency pair will be closely eyeing the release of preliminary US durable goods orders and personal consumption expenditure data for the month of November.

AUD/USD Trading Resources

--- Written by Megha Torpunuri, DailyFX Research Team

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.