AUDCAD Slips Overnight, Aussie Jobs Fall Short of Expectations
AUDCAD Slips Overnight, Aussie Jobs Fall Short of Expectations
AUDCAD encountered firm resistance near the 0.8930 zone, triggering a sharp overnight drop of nearly 50 pips. This move followed softer-than-expected Australian employment data for May, where total jobs unexpectedly declined by 2,500—well below the forecast of a 22,500 increase. Despite the miss, the unemployment rate held steady at 4.1%, unchanged for over a year.
Following this initial drop, the pair may enter a short consolidation phase before resuming its bearish trajectory, as technical patterns suggest continued downside pressure.
🎯 Key downside targets: 0.8845, 0.8825, and 0.8805
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
AUDCAD encountered firm resistance near the 0.8930 zone, triggering a sharp overnight drop of nearly 50 pips. This move followed softer-than-expected Australian employment data for May, where total jobs unexpectedly declined by 2,500—well below the forecast of a 22,500 increase. Despite the miss, the unemployment rate held steady at 4.1%, unchanged for over a year.
Following this initial drop, the pair may enter a short consolidation phase before resuming its bearish trajectory, as technical patterns suggest continued downside pressure.
🎯 Key downside targets: 0.8845, 0.8825, and 0.8805
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.