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Wrap Up 11-15 March 2013 – AUDUSD Up 1.9%


Economic Indicator Actual Forecast Previous
NAB Business Confidence 1 3
Westpac Consumer Sentiment 2.0% 7.7%
Home Loans m/m -1.5% 0.2% -2.1%
Employment Change 71.5k 9.5k 13.1k
Unemployment Rate 5.4% 5.5% 5.4%

Last week aussie, as the Australian dollar is known, had risen 1.9% (204 pips) in pair with the American Dollar.

After the Home Loans indicator has fallen unexpectedly to -1.5%, the Employment Change has surprised the markets. In Australia were added 71.5 thousand jobs last month, the highest level in almost 13 years. Unemployment rate dropped at 5.4%.

The good labor market data triggered the rally in AUDUSD latest evolution, getting aussie back to 1.04, before the next Monetary Policy Meeting, on speculation that RBA (Reserve Bank of Australia) will not cut the interest rate.

Fur sure next week the main events will be the speeches of RBA’s officials and the release of the Monetary Policy Meeting Minutes.


Support: 1.0290

Resistance: 1.0410

First good news for AUDUSD was the weekly closing over 1.0150, two weeks ago and after that the rally from last week. At this moment a Morning Star was created, on a weekly chart, at the support mentioned earlier. This could be a bullish signal that tells us the price will go higher, maybe back to 1.06 resistance zone.

Wrap Up 11-15 March 2013 – AUDUSD Up 1.9% by