|
AUD/USD Key Supp. 0.7891
The pair is mixed above 0.80 ahead of the NFP report. The figures to this month's data are highly anticipated with Consensus looking at 520K jobs lost in May and the unemployment rate to spike to 9.2%. Stock market performance will be key for the currency pair's price action. Looking at the 4hour chart, AUD/USD found strong demand at 0.7891,the 50% Fib, rebounding to above the 0.80 level. The bias is neutral in the near term but a buy on dips strategy should continue as long as commodity and stock prices stay well supported. The next level of support is 0.7990 followed by 0.7937 and 0.7891 (50.0% Fib). Resistance lies at 0.8095 followed by 0.8137, and 0.8228. Trading levels in play:
There are no solid trade recommendations at the moment for intraday moves.  DISCLAIMER: Trading off-exchange currencies on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade the foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. Before making your investment decisions please acknowledge that the information provided herein should not be taken without your own individual assessment and extensive investigation, it should not be preempted as your own trading strategies, investment advice and/or trading portfolio. The views, forecasts and strategies may not prove to be accurate and may not be appropriate for you. Additionally, the views, forecasts and strategies provided by the author are not necessarily those of Gorbe Investments Corp., ForexDistrict, its owners, employees or other affiliates and/or contributors. Gorbe Investments Corp., ForexDistrict and the technical analysts will not be responsible for any loss incurred as a result of any information provided in this section. As such, Gorbe Investments Corp., ForexDistrict and the technical analysts do not provide investment advice, trading signals and/or any other professional advice such as legal, accounting, financial, etc... ForexDistrict provides this section only for general information; please contact an expert professional if any of these advices are needed. 
| Views: 101 |
Comments: 22 |
Favorited: 2 |
|
|
Recent Posts
Syndication Tools
|
|
Free Sign Up - Start Making Money on Flixya »
