The Australian labor market surprised to the upside on its headline figure on the back of part-time jobs creation. Full-time jobs were lost and the unemployment rate advanced. The Australian Dollar came under selling pressure as bearish momentum is expanding. The Reserve Bank of Australia will closely follow economic developments as its last minutes indicated that an interest rate cut is on the table. Will the AUDCHF enter a bigger sell-off or is the current sell-off a limited move to the downside? Today’s fundamental analysis will cover price action in both directions.
