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Employment Report Pushed AUDUSD Higher

Australian Dollar strengthened against US Dollar after the Australian Bureau of Statistics released an employment change and unemployment rate data. This time China weak Industrial Production data didn’t had any effect on AUDUSD as job data weighed. 

According to the report, the number of employed people rose by 47,300 in February beating the economist’s expectations for an increase of 18000. The unemployment rate remained unchanged at 6% last month in line with the expectations.Full time employment increased by 80,500 whereas part time employment decreased by 33,300.

(AUDUSD : Hourly Chart)

AUDUSD trimmed its losses after the report and surged to find resistance at .9075 which was earlier acting as the support for the pair. The pair is now moving sideways. Further movement will be driven by the US Retail Sales Data and Jobless data coming out at 8:30 AM EDT.