12.06.2014 - Data on the labor market have led to an increase in the volatility of the Australian dollar
Volatility of the Australian dollar rose greatly after the release of data on unemployment in the country. Thus, the number of employed people fell by 4.8 thousand in May, against analysts' forecast of 10.3 thousand. From a technical point of view, further growth of quotations is limited by strong resistance at 0.9400. The price can overcome it in case of positive data on industrial production, investment and retail sales in China, which will be published tomorrow. In case of reduction, we expect the price to reach the level of 0.9300. We maintain a medium-term negative outlook for the Australian dollar.