Technicals

Add as a preferred source on Google

FxWirePro: AUD/USD set for a slump, shorts hold the advantage

• AUD/USD eased on Thursday as US dollar firmed as ADP showed better-than-expected jobs gains. • Private payrolls increased by 143,000 jobs last month after rising by an upwardly revised 103,000 in August, the ADP Nation…

1 min read
FxWirePro: AUD/USD set for a slump, shorts hold the advantage
Image from the original EconoTimes article

Read the original article

• AUD/USD  eased on Thursday  as US dollar firmed as ADP showed better-than-expected jobs gains.

• Private payrolls increased by 143,000 jobs last month after rising by an upwardly revised 103,000 in August, the ADP National Employment Report showed on Wednesday.

•Improving economic data and more hawkish comments from Federal Reserve Chair Jerome Powell on Monday have boosted the dollar and led traders to pare bets that the U.S. central bank will cut rates by another 50 basis points.

• By 06:42 GMT, Australian dollar was down 0.14% against the US dollar to 0.6874.

• Immediate resistance is located at 0.6888 (Daily high), any close above will push the pair towards 0.6910 (Higher BB).

• Immediate support is seen at 0.6857 (50% fib) and break below could take the pair towards 0.6817 (61.8% fib).

 Recommendation: Good to sell around 0.6880, with stop loss of 0.6960 and target price 0.6800

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560