The AUD/USD Spikes on Jobs Beat

The Aussie is off and running this morning, as we have seen a strong result for Australian employment.

Last month 25.7K new jobs were created while the unemployment rate remained steady at 5%.

There was also an uptick in the participation rate which is a big positive.

If you recall the RBA mentioned that the two key factors for a rate cut were weak employment trending lower and stagnate inflation.

The prior seems to be on the up and improving if anything so that might silence the RBA doves for now.

The  AUD/USD is back testing the 0.7200 resistance level which has previously been. tough to crack.