Global macro overview for 13/04/2017:

The Employment Change data from Australia released overnight were way better than expectations. The Employment Change for March was at the level of +60.9k while market participants expected +20k, prior was +2.8k, revised from -6.4k. The Unemployment Rate remained unchanged at the level of 5.09%, just as expected. The Full-Time Employment Change was at the level of +74.5k, while prior was +38.8k, revised from +27.1k. The Part Time Employment Change decreased -13.6k, the prior decrease was -35.9k, revised from -33.5k. In conclusion, Australia's employment surged in March, rising for the sixth consecutive month and confirming that the labor market was on a strong footing after a rocky 2016.

Let's now take a look at the AUD/USD technical picture at the H4 timeframe. The data release from the Australian labor market has contributed to the intensification of demand that has managed to break out of the downward channel. Around the 61%Fibo at the level of 0.7600, the supply began to enter the market and the rally was capped. The stochastic oscillator still looks positively but it might be confronted with RSI retreat. The capitulation of the supply at the level of 0.7600 should bring the possibility of a further rally towards the next resistance - this time 78.6% at the level of 0.7635. The nearest support is seen at the level of 0.7568.