- AUD/USD spikes past 20-DMA, is extending upside, currently hovers around 50-DMA at 0.7669.
- Aussie continues to be supported higher, extends gains across the board on strong Aussie jobs data.
- The ABS reported earlier today that the Australian economy added 61.6K jobs in November, beating consensus at 18K.
- The full-time employment stood at 41.9k (prior 24.7k), while part-time employment 19.7k (prior -20.3k), while the participation rate ticked higher to 65.5 percent from 65.1 percent.
- Bullish divergence on RSI and Stochs raises scope for some upside. Break above 50-DMA targets 200-DMA at 0.7691.
Support levels - 0.7582 (20-DMA), 0.7577 (5-DMA), 0.75 (78.6% Fib retrace of 0.73285 to 0.81250 rally)
Resistance levels - 0.7668 (50-DMA), 0.7691 (200-DMA), 0.7726 (50% Fib retrace of 0.73285 to 0.81250 rally)
Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-USD-hovers-around-20-DMA-at-07575-good-to-go-long-on-close-above-1055727) has all targets.
Recommendation: Book partial profits, trail stop loss to 0.7575, stay long for 0.7691/ 0.7725.
FxWirePro Currency Strength Index: FxWirePro's Hourly AUD Spot Index was at 91.9609 (Bullish), while Hourly USD Spot Index was at -63.1649 (Neutral) at 0900 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
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