I seem to be devoting alot of time to the aussie lately and its not the only pair I cover but what a day after the job report came out. Employment on a seasonally adjusted basis fell below 6% to 5.9 and the ABS reported the number of people employed increased by 58,600 to 11,838,200 in October 2015 (seasonally adjusted). The increase in employment was driven by increases in male full-time employment (up 33,500) and female part-time employment (up 24,000)
The aussie gapped up and has now closed the price leg down after the NFP last week. Employment numbers decreased the likelihood of a rate cut b4 Christmas by RBA and the aussie pairs all follwed suit. Above 7170 and we will be targetting mid 72.