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FXstreet.com (Barcelona) - The market is taking the Aussie timidly lower in Asia, presently at 0.9170, ahead of the unemployment rate data in Australia, expected to have improved to 5.2% against 5.3% the previous month. Looking at price action, the Australian Dollar shot up on Wednesday, recovering the lost ground from the prior's day drop, even breaking through 0.9179 to establish a new 1-month high at 0.9191, accumulating some nice 0.85% daily gains.

On one hand, Valeria Bednarik, Independent Advisor at Fxstreet.com said "AUD/USD holds a bullish tone despite losing momentum consolidating around 0.9180 price zone. An acceleration above 0.9200 following better than expected data, should trigger a continuation rally towards the 0.9240 zone, ahead of stronger 0.9270 resistance area. On contrary, disappointing data and falling stocks could turn the pair bearish, with 0.9140 as level to watch: break under this last should put the pair back under pressure, with 0.9070/0.9100 area as probable target zone"

On the other hand, Greg Michalowski, Chief Currency and Trading Analyst for FXDD, said: "AUD/USD has made a new month long high today, rising to 0.9191. This is the highest level since August 9th, 2010.  However, the move to new week highs above the 0.9179 has not exactly been met with increased buying momentum and the pair is running into some profit taking sellers.  The price is now testing the 100 bar MA on the 5 minute chart at 0.9175. The price has stayed above the moving average for most of the trading day, but that may be broken.  A break of the moving average line should lead to additional pressure on the pair".

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