AUD/USD (current price: 0.7362)
The Australian Employment Report came in mixed as Employment rose unexpectedly by 39,100 while the Unemployment Rate also ticked higher to 5.7%. The U.S. Philly Fed Index was much higher than expected in November following the presidential election. The CPI Report was in line with expectations in the same period with a reading of 0.2%. The pair added to its losses after the release of the bullish U.S. numbers, finishing just above the crucial support level near 0.7350.
Our assessment: The cross has been hit hard by the FED decision, but it remains within its neutral trading range. Support is still found at 0.7350, with strong resistance at 0.75.
