The cross manages to give an inverse h&s pattern breakout in the h1 chart aiming at 0.9400 initially. The nearest resistance zone seems between 0.9380 and 0.9385.
Ahead of the Aussie jobs data, the cross is facing strong resistance at 200dema in hourly chart. In case, of positive Aussie jobs data, the cross might shoot to 0.9400 and 0.9430 levels.
Selling opens below 0.9340 few pips lower targets at 0.9300 and 0.9250 levels.
A daily close above 0.9400the bulls might aim at 0.9450 is an immediate target.
Economic events: Today’s Aussie unemployment rate and employment rate might produce volatility during early Asia’s session.
Employment change: Economists expects the job market in October largely to rebound to 15.0K after a sharp dip in September. The job has market has been improving since May but sudden drop takes place in September, later revised to 18.1K.
Unemployment rate: Economists expects October unemployment rate remains at 6.2%.