AUD/USD nears 6-day high ahead of Australia jobs data

ForexNewsNow | Published on July 7, 2010 at 4:27 pm

NEW YORK (Forex News Now) – The Australian dollar rose very slightly against the greenback on Thursday, approaching a 6-day high as FX traders awaited key employment data from Australia.

In early Asian currency trading, AUD/USD traded at 0.8644, up 0.1 percent on the day, nearing Tuesday’s high of 0.8663, the currency pair’s highest since June 29.

The Australian Bureau of Statistics, meanwhile, was set to publish data on the country’s unemployment rate and employment change in June, in the session’s spotlight FX news events.

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According to forex analysis, AUD/USD is likely to touch immediate support around Tuesday’s open, 0.8398, and encounter resistance around the high of June 29, 0.8721.

Later Thursday, the U.S. Labor Department was also due to publish a key weekly report on new claims for unemployment benefits.

Meanwhile, the Aussie rose versus the yen: AUD/JPY traded at 75.83, up 0.05 percent on the day.


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