Australian Jobs Report Failed to Surge AUD / USD

 The Australian dollar commodity currency is seen as still trading gloomy in the market following investors are still wary of mixed market sentiment between vaccine developments and an increase in the outbreak of the Coronavirus.


The Asian session on Thursday provides the foundation for Australian employment data published for October.


Job growth has increased so that 178,800 jobs provide a positive picture of the labor sector even though the market expects the economy to lose around 26,700 jobs.


The unemployment rate also increased slightly to 7.0% compared to 6.9% previously, but lower than the rate of increase to 7.1%.


However, the market is seen as not very reacting to the jobs report with the Aussie dollar moving still slowly in the Asian session.


On the AUD / USD chart price pair, the price has shown a decline towards the end of the New York session after the price failed to reach the high level of the previous day.


After closing the trade around the level of 0.73000, the price continued to connect trading at the opening of the Asian session to a lower level.


A decline below the moving average 50 (MA50) barrier level on the 1-hour timeframe also provided early clues to investors that a further decline in price might take effect.



A lower decline is expected towards the RBS zone (resistance become support) around 0.72200 prior to the next RBS zone at 0.71800.


However, if the price makes another increase, the face of the price will be seen at the resistance zone 0.73400 which has been tested since last week and also before.


The higher rise is likely towards an altitude level of around 0.74000.