AUD/USD chart - Trading View
Fundamental News:
- Aussie jobs data inline with expectations, seen as positive (or bullish) for the AUD
- Unemployment Rate seasonally adjusted prints at 5.0% vs expected 5.0% and prior 4.9%
- Full Time Employment Change saw a big jump at 48.3K vs prior - 7.3k
Technical Analysis:
- AUD/USD pivotal at 200-DMA, multiple rejections in the past few sessions
- Momentum with the bulls. RSI shows strength in trend at 59 levels
- Price action above cloud and major EMAs, break above 200-DMA will propel the pair higher
- That said, back-to-back doji formations on the daily charts suggest indecisiveness
- Break above 200-DMA targets 38.2% Fib at 0.7276. Break below 110-EMA will see dip till cloud
Data Watch:
- U.S. Retail Sales and Initial Jobless Claims
Support levels - 0.7175 (5-DMA), 0.7152 (110-EMA), 0.7126 (55-EMA)
Resistance levels - 0.7192 (200-DMA), 0.7276 (38.2% Fib), 0.7295 (Jan 31st high)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
