The AUD/USD ended the week on a higher note on the back of good employment data as well as a better than expected GDP report out of China. However, a small rise in the unemployment rate served to mute the advance of the Aussie Dollar.
With such a stellar jobs report posted last week, all eyes are now on the Reserve Bank of Australia (RBA). There is now a lot of sentiment in favour of a possible rate hike to occur earlier than previously thought. Market watchers are now pricing in a rate hike from the present levels of 1.5% to occur in November and not in December as was the case a month ago. As the US government shutdown continues to weigh down the US Dollar, the sentiment for the AUDUSD is for moderate bullishness going forward, at least in short to medium term.
Aud/Usd Daily Supply & Demand Zones:
Aud/Usd 1H Supply & Demand Zones: