AUDUSD trade analysis

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Daily Chart

H4 Chart

I expected a bigger retracement on the AUDUSD but it never came after price hitting a high of 0.8124. At the current level price is trading at Daily time frame 0.7977 support and rejecting it.

On the h4 time frame, we have double confluence support at 0.7969 with the channel bottom too. The current short term resistance is at around 0.8026 – 0.8030 area. Looking to take a medium risk buy trade at current levels with a small stop loss. Employment had a huge jump where 54.2K versus an expected 17.5K. Compared to last month of 29.34K, it is a good number and it is also the second highest jump in the last one year. Now it is only for the momentum to follow through.