Forex: AUD/USD continues to rise going past 0.9200 as job ads fall by 1.7%

The AUD gained on the USD and posted an intraday high of 0.9220 before settling to 0.9208. Trends are upward on the pair as it finds support at 0.8910 and resistance at 0.9185. The pair may yet test the 0.9300 mark set in October pushing for its highest level in 2009.

In Australia, the ANZ bank reported job ads fell in October by 1.7% which reversed gains in the previous month. As the Business Spectator reports, “ANZ acting chief economist Warren Hogan said the survey shows the Australian economy is vulnerable to setbacks” and expects mild improvement in job figures in the near future. The ANZ predicts that the unemployment will rise in Australia will rise by 0.1% to 5.8% in October. The Australian Bureau of Statistics will release its formal report on unemployment this Thursday.